Applied buys Kokusai for $2.2 billion

July 01, 2019 //By Peter Clarke
Applied buys Kokusai for $2.2 billion
Applied Materials Inc. has agreed to buy Kokussai Electric Corp. for $2.2 billion being provided in cash by equity investment firm KKR.

Kokusai is a maker of batch and single-wafer processing equipment for memory, foundry and logic processes.

After the close of the deal Kokusai will operate as a business unit of Applied's semiconductor products group and continue to be based in Tokyo, with technology and manufacturing centers in Toyama, Japan and Cheonan, Korea.

The transaction has been approved by the Applied Materials Board of Directors. The transaction is expected to close within approximately 12 months and is subject to regulatory approvals and other customary closing conditions.

Applied expects to finance the deal using a combination of balance sheet cash and loan from KKR.

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