News
 

Bookmark and Share

(0) 

ASML Holding, a leading provider of lithography systems for the semiconductor industry, and Cymer, a leading supplier of lithography light sources used by chipmakers to manufacture advanced semiconductor devices, have entered into a definitive agreement under which ASML will acquire Cymer in a cash-and-stock transaction currently valued at €1.95 billion ($2.557 billion). The move will accelerate development of EUV lithography.

The purpose of the acquisition of Cymer is to accelerate the development of extreme ultraviolet (EUV) semiconductor lithography technology. ASML and Cymer have collaborated closely for over a year, and this merger is the natural evolution of their existing cooperation in developing EUV technology. Combining Cymer’s expertise in EUV light sources with ASML’s expertise in lithography systems design and integration will reduce the risk and accelerate the introduction of this extremely complex technology.

“We expect the merger to make EUV technology development significantly more efficient and simplify the supply chain and integration flow of the EUV modules. We are also very much encouraged by the opportunities that we expect to create around Cymer’s growing advanced Immersion systems and dry deep ultraviolet (DUV) installed base products (IBP) business,” said Eric Meurice, president and chief executive officer of ASML.


ASML's EUV demo tool

As a result of the transaction, ASML will also acquire Cymer’s DUV business. This technology is expected to remain a significant and growing engine of sales and profit and will be well positioned to support and balance customer needs for EUV and immersion multiple patterning. ASML intends to manage Cymer’s commercial operations as an independent division based in the United States, and will continue to deliver and service DUV and EUV sources for all customers on an arm’s length basis. ASML scanners will continue to interface with light sources from all manufacturers.

The transaction, which was unanimously approved by the boards of directors of ASML and Cymer, would entitle each Cymer shareholder to receive $20 in cash and a fixed ratio of 1.1502 ASML ordinary shares per Cymer share. The total price reflects a premium of 61% over Cymer's 30-day volume-weighted average price (VWAP) and 52% over its 90-day VWAP, using ASML’s VWAP for the comparable period ending 16 October 2012. The transaction is expected to close in the first half of 2013 and is subject to customary closing conditions, including review by U.S. and international regulators and approval by Cymer's shareholders.

“Over the last several years, Cymer has been investing significant capital towards developing EUV source technology. We are very encouraged that ASML’s resources will enable the combined company to continue to develop and successfully commercialize EUV on an accelerated time frame,” said Bob Akins, Chairman and Chief Executive Officer of Cymer.

Tags: ASML, Cymer, Semiconductor, EUV, 22nm, 20nm, 14nm, 16nm, Business

Discussion

Comments currently: 0

Add your Comment




Related news

Latest News

Wednesday, August 20, 2014

10:53 am | AMD to Cut Prices on FX-9000, Other FX Processors: New Prices Revealed. AMD to Make FX Chips More Affordable, Discontinue Low-End Models

10:32 am | LG to Introduce World’s First Curved 21:9 Ultra-Wide Display. LG Brings Curved Displays to Gamers, Professionals

9:59 am | AMD Readies FX-8370, FX-8370E Microprocessors. AMD Preps Two New “Mainstream” FX Chips

Monday, August 4, 2014

4:04 pm | HGST Shows-Off World’s Fastest SSD Based on PCM Memory. Phase-Change Memory Power’s World’s Fastest Solid-State Drive

Monday, July 28, 2014

6:02 pm | Microsoft’s Mobile Strategy Seem to Fail: Sales of Lumia and Surface Remain Low. Microsoft Still Cannot Make Windows a Popular Mobile Platform

12:11 pm | Intel Core i7-5960X “Haswell-E” De-Lidded: Twelve Cores and Alloy-Based Thermal Interface. Intel Core i7-5960X Uses “Haswell-EP” Die, Promises Good Overclocking Potential