Applied Materials to buy Kokusai for $2.2 billionChristian Fernsby ▼ | July 1, 2019
Applied Materials announced a definitive agreement under which Applied will acquire all outstanding shares of Kokusai Electric Corporation for $2.2 billion in cash from global investment firm KKR.
Acquisition Applied Materials
These systems complement Applied’s leadership portfolio in single-wafer processing systems.
Kokusai Electric has strong customer relationships, world-class supply chain and manufacturing capabilities in Japan and Asia, and a talented team of employees.
Following the close of the transaction, Kokusai Electric will operate as a business unit of Applied’s Semiconductor Products Group and continue to be based in Tokyo, with technology and manufacturing centers in Toyama, Japan and Cheonan, Korea.
The acquisition is expected to be immediately accretive to Applied’s non-GAAP earnings per share at close.
The transaction has been approved by the Applied Materials Board of Directors.
The transaction is expected to close within approximately 12 months and is subject to regulatory approvals and other customary closing conditions. ■