Semitool now part of Applied Materials
Erika Hoefer | Hagadone News Network | UPDATED 15 years, 3 months AGO
In a deal finalized Monday, Applied Materials Inc. successfully completed its $364 million acquisition of Semitool Inc.
The $11-per-share cash tender offer was completed Thursday with 94 percent of shareholders responding prior to the midnight deadline.
Kalispell-based Semitool, which makes precision semiconductor manufacturing equipment, now will be operated as part of Applied’s Silicon Systems Group. A wholly owned subsidiary of the company, the Silicon Systems Group handles Applied Materials’ entire portfolio of semiconductor manufacturing systems.
Semitool employs 825 people worldwide, with 550 of those employed here in the Flathead Valley.
“All of the Semitool work force became Applied employees as of Monday,” Semitool attorney Richard Hegger said.
Semitool will keep its name for the foreseeable future, Hegger said.
Vicki Billmayer, Semitool’s human resource manager, confirmed that all current employees already have been switched to the Applied Materials payroll.
Billmayer said that to her knowledge, no layoffs are being planned for workers at the three facilities in the Libby and Kalispell areas. “So far, it looks like [Applied Materials] wants everyone to stay. They’re real excited and positive about what we do here,” Billmayer said.
Applied Materials announced its intent to acquire Semitool on Nov. 17.
“Semitool is a strategic fit for Applied that strengthens our ability to address two important, high-growth markets in the semiconductor industry,” Dr. Randhir Thakur, senior vice president and general manager of Applied’s Silicon Systems Group, said in a news release. “Our enhanced product lineup will provide customers with the broadest range of manufacturing solutions for both chip fabrication and packaging to meet the accelerating demand for more powerful, sophisticated and cost-effective devices.”
With national headquarters in Santa Clara, Calif., Applied Materials employs some 12,600 workers globally. Formerly a competitor of Semitool in manufacturing of wafer processing equipment for the semiconductor industry, the company was founded in 1967 and also manufactures products used in creating flat panel displays, solar panels and energy-efficient glass.
“[The merger] should only have a positive effect on business” generated by the combination of strengths in the two companies, Hegger said.
Semitool was founded by Ray Thompson 30 years ago.
Reporter Erika Hoefer may be reached at 758-4439 or by e-mail at ehoefer@dailyinterlake.com
MORE IMPORTED STORIES
ARTICLES BY ERIKA HOEFER
Man uses business savvy to keep water park afloat
Water world
It was a simple college internship that led Roger Elliott to his life’s work.
In her comfort zone
Col. Falls native turns to wool in year of rejuvenation
On a Wednesday night, a circle of women gather at Shelly Whitman’s childhood home in Columbia Falls. There is laughter, pink wine and orange slices and, of course, knitting.
Filling a niche
Local gym marks first year with major expansion
Travis Davison doesn’t wear shoes at work. Or socks, for that matter. And much of the time he runs around in tie-dyed pants that anywhere else would look like pajamas. But for Coach Davison they’re part of his daily uniform.