Applied Materials plans a deal in Japan
U.S. semiconductor equipment supplier Applied Materials will buy Japan's Kokusai Electric for about $2.3 billion.
The world's top supplier of chipmaking equipment buys Japanese peer Kokusai Electric
Stocks impacted: Applied Materials Inc. (AMAT), KKR & Co. (KKR)
U.S. semiconductor equipment supplier Applied Materials will buy Japan's Kokusai Electric for about $2.3 billion. The acquisition is expected to be announced in a couple of days. The deal will expand Applied Materials' product lineup at a time when the semiconductor industry is rushing to develop more advanced chips for applications including 5G networks and artificial intelligence. The U.S. company aims to purchase all of the former Hitachi group member from private equity group KKR by the end of the year. On Friday, Applied Materials Inc. stock closed 0.5% higher and could gain further on the reports about a deal.
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