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Applied Materials Offers to Buy Semitool for $364 Million

Combination makes Applied Materials http://www.appliedmaterials.com/ the leader in high-growth equipment market for advanced packaging of chips for mobile devices

Strengthens Applied’s opportunity in the memory industry’s conversion to copper

Live conference call and webcast today at 5:30 a.m. Pacific Standard Time

Applied Materials, Inc. (Nasdaq:AMAT) and Semitool, Inc. http://www.semitool.com/ (Nasdaq:SMTL) today announced a definitive agreement for Applied to acquire the outstanding shares of Semitool for $11 per share in an all-cash tender offer.

The acquisition makes Applied the equipment leader in two fast-growing segments: advanced packaging and the memory industry’s conversion to copper. The combination enables Applied to serve its customers with a broader range of products and expands the company’s reach to a new set of customers in the semiconductor packaging industry.

“The semiconductor industry recovery is being fueled by global demand for mobile devices such as smart phones, notebook PCs and portable media players for music, gaming and books,” said Mike Splinter, chairman and CEO of Applied Materials. “With this acquisition, Applied will help the world’s leading chip makers create ever-smaller and more powerful devices.”

Full Story: http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20091117005719&newsLang=en

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