ASML to buy lithography light sources supplier Cymer for $2.5 bn
17 Oct 2012
ASML Holding NV (ASML), the world's largest chip equipment maker, today said that it will buy Cymer Inc, a US-based supplier of lithography light sources, in a €1.95 billion ($2.5 billion) cash and stock deal.
Under the terms of the deal that has been approved by the boards of both companies, each Cymer shareholder will receive $20 in cash and a fixed ratio of 1.1502 ASML ordinary shares per Cymer share.
The total price is a premium of 61 per cent over Cymer's 30-day volume-weighted average price (VWAP) and 52 per cent over its 90-day VWAP.
Nasdaq-listed Cymer is an industry leader in developing lithography light sources, used by chipmakers worldwide to pattern advanced semiconductor chips, and is pioneering a new silicon crystallization tool for the display industry.
The San Diego, California-based company's light sources have been widely adopted by the world's top chipmakers. Its installed base comprises approximately 3,750 systems.
Cymer is currently pioneering the industry's transition to EUV lithography, the next viable step on the technology roadmap for the creation of smaller, faster chips.
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