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| Varian Semiconductor Equipment |
Reuters reported that Applied Materials, Inc. will buy Varian Semiconductor Equipment Associates, Inc. for $4.9 billion, as it looks to maintain its edge in new chipmaking technology to meet the rising demand from smartphone and solar equipment makers.
The $63 per share cash deal represents a 55% premium to Varian stock's closing price on Tuesday. Varian provides chipmakers with ion implantation gear for making integrated circuits, or chips, found in all modern electronic gadgets. It is a complex process of implanting ions around which the structure of the chip will eventually be built.
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