Entegris Inc. and ATMI have approved a definitive merger agreement under which Entegris will acquire ATMI for a total equity value of approximately $1.15 billion on a fully-diluted basis, or approximately $850 million net of cash acquired, including the net cash proceeds from the sale of ATMI’s LifeSciences business of $170 million. The companies anticipate closing the transaction in the second quarter of 2014.
The combination brings together two suppliers in the semiconductor industry to create a technology company that will deal with advanced process materials, contamination control, and wafer handling. The company will sustain its investments in R&D, infrastructure, and metrology.
Bertrand Loy, President and Chief Executive Officer of Entegris, says, “ATMI’s microelectronics business is an excellent fit with Entegris and provides us with a premium portfolio of products that will enable us to create enhanced value. ATMI and Entegris share a long and successful history of solving some of the most difficult yield challenges facing the industry. Together, we will be uniquely positioned with innovative yield-enhancing solutions to address the increasing complexity and cost of new semiconductor processes. Upon closing, approximately 80% of our product sales will be unit-driven and focused on the most rapidly growing and critical areas of the semiconductor fab. We are excited about the opportunities ahead and look forward to quickly realizing the significant benefits of this transaction for our shareholders, customers and employees.”
“Throughout this process, our goal has been to enter into a transaction that not only maximizes shareholder value, but also places our business with the right partner for our valued customers and employees,” says Doug Neugold, President and Chief Executive Officer of ATMI. “We are pleased to merge our microelectronics business into Entegris. Entegris’ global platform and complementary products represents a great opportunity for ATMI stakeholders, including our shareholders, who will receive an immediate premium for their investment.”
Release Date: February 4, 2014
Source: Entegris
