Equipment and Materials ♦ news digest
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.”
Loy continues, “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 percent 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 realising the significant benefits of this transaction for our shareholders, customers and employees.”
Doug Neugold, President and Chief Executive Officer of ATMI, comments, “Throughout this process, our goal has been to enter into a transaction that not only maximises shareholder value, but also places our business with the right partner for our valued customers and employees. 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.”
Financial Benefits
The combination is expected to generate annualized cost synergies of approximately $30 million, achieved through identified operational efficiencies and overhead consolidation. The combined company will have an efficient balance sheet, benefitting from the deployment of excess cash and the addition of attractive debt financing.
The transaction is expected to be immediately accretive to non-GAAP EPS with the potential for significant earnings leverage as the combined company’s cash flow generation enables the repayment of debt.
Closing Conditions
The transaction is subject to regulatory approvals of both U.S. and international regulators, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Act, as well as other customary closing conditions. The transaction is also subject to approval by ATMI shareholders.
The transaction is also conditioned on the closing of ATMI’s previously announced sale of its LifeSciences business, which is expected in the first quarter of 2014.
Entegris and ATMI hosted a joint conference call which can be accessed via telephone by dialling (800) 585-8367 or (404) 537-3406 and using the passcode
#59322873, or by accessing
http://investor.entegris.com/ events.cfm.
Entegris provides a wide range of products for purifying, protecting and transporting critical materials used in processing and manufacturing in semiconductor and other high-tech industries.
ATMI, Inc. is a global provider of specialty semiconductor materials, and safe, high-purity materials handling and delivery solutions designed to increase process efficiencies for the microelectronics, life sciences, and other industries.
IQE reveals industry’s first 150mm InSb substrates
The indium antimonide substrates are suited for use in MWIR focal plane infrared detectors
IQE is, this week, presenting a series of invited papers on recent key developments in advanced photonic technologies at optoelectronics event, Photonics West.
One of the papers announces what IQE says is an industry first; the commercial growth and characterisation of 6” diameter InSb substrates that are suitable for use in the fabrication of MWIR focal plane infrared detectors.
Mid-wavelength infrared (MWIR), also called intermediate infrared (IIR) devices, are in the 3 to 8 µm range.
Growth and characterisation of 6” InSb substrates for use in large area infrared imaging applications
In addition to the 150mm InSb announcement, IQE will establish a strong presence at Photonics West with the presentation of a further two invited papers by the Group’s infrared division:
GaSb-based photodetectors covering short-wave to long- wave IR grown by MBE
Molecular beam epitaxial (MBE) growth of GaSb-based photodetector structures spanning the short-wave to long wave IR spectral range. Barrier-type nBn detectors, grown on 4-inch GaSb or 6-inch GaAs.
Multi-wafer growth of GaInAs photodetectors on 4” InP by MOCVD for SWIR imaging applications
Growth of InP/GaInAs photodetectors on 4” InP by MOCVD.
March 2014
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