Japanese electronics and semiconductor company Tokyo Electron Limited yesterday agreed to buy US-based chipmaker FSI International Inc for $252.5 million in cash, in order to add surface preparation technology to its chip-making capabilities.
Tokyo Electron will pay $6.20 per share in cash, a premium of 53.5 per cent to FSI's closing price on 10 August.
The board of FSI has recommended the offer to its shareholders and the deal is expected to close in the current year.
Chaska, Minnesota-based FSI is a global supplier of surface conditioning equipment, technology and support services for microelectronics manufacturing.
The company's broad portfolio of cleaning products, which include batch and single-wafer platforms for immersion, spray and cryogenic aerosol technologies, helps customers to enhance their process performance flexibility and productivity.
Tokyo Electron said that the acquisition of FSI technologies, combined with its own expertise in batch and single wafer surface preparation equipment with high productivity and low-defect performance, will enable it to provide an even stronger overall product lineup.