COSTA MESA, Calif., 11 July 2008. Ceradyne Inc. has signed a definitive Agreement and Plan of Merger to acquire SemEquip Inc. for approximately $25 million in cash at closing, plus contingent payments of up to $100 million during the 15-year period following completion of the merger based upon revenues achieved over that period by SemEquip.
Privately held SemEquip Inc., based in North Billerica, Mass., is a developer of cluster ion implantation sub-systems and advanced ion source materials for the manufacture of logic and memory chips. SemEquip's technologies enable the utilization of cluster beam ion implantation for manufacturing advanced integrated circuits at the lowest cost and highest throughput.
This acquisition will expand Ceradyne Boron Products' business and will extend Ceradyne's market opportunity in the semiconductor industry.
Enriched Boron is the key isotope used to manufacture the B18H22 "cluster boron" molecule that SemEquip's cluster ion beam implantation systems use to achieve next-generation performance in semiconductor ion implantation. B18H22 and related Cluster Chemicals will be manufactured by the Ceradyne Boron Products facility in Quapaw, Okla.
The closing is anticipated in 30 days, pending approval by SemEquip's shareholders.
Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel, and commercial applications.
