Axcelis Applied sciences and Veeco Devices have each secured stockholder approval for his or her beforehand introduced merger, geared toward establishing a serious entity within the semiconductor tools trade, valued at roughly $4.4bn.
This all-stock transaction is ready to finish within the second half of 2026.
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Initially introduced in October 2025, the merger is projected to create a strong presence out there by combining the strengths of each corporations.
Axcelis, headquartered in Beverly, Massachusetts, has been offering options for the semiconductor trade for over 45 years. The corporate specialises in designing, manufacturing, and supporting ion implantation techniques, that are essential within the built-in circuit manufacturing course of.
Veeco, headquartered in Plainview, New York, is engaged in manufacturing semiconductor course of tools, together with applied sciences like laser annealing, ion beam deposition, and metallic natural chemical vapour deposition (MOCVD). These applied sciences play a key function within the fabrication and packaging of superior semiconductor units.
The valuation of the mixed entity is derived from the share costs of Axcelis and Veeco as of 30 September 2025, alongside present money owed from 30 June 2025.
Each Axcelis, listed on Nasdaq as ACLS, and Veeco, listed as VECO, performed particular conferences the place stockholders voted in favour of the merger proposals. The outcomes of those votes might be reported by a Kind 8-Okay submitting with the US Securities and Trade Fee by every firm.
Beneath the phrases of the settlement, Veeco shareholders will obtain 0.3575 Axcelis shares for every Veeco share owned. Upon finalisation, Axcelis shareholders will personal about 58% of the merged firm, whereas Veeco shareholders will personal roughly 42%.
Aimed toward rising market attain, the merger will combine complementary applied sciences from each companies, probably increasing their complete addressable market to over $5bn. This growth is basically pushed by development in AI and associated energy answer calls for.
Moreover, the mixed firm will diversify its expertise choices and market segments to higher assist buyer developments, thereby turning into the fourth largest US wafer fabrication tools provider by income.
The merger’s monetary advantages embody anticipated income synergies by expertise integration and cross-selling alternatives.
Axcelis and Veeco count on annual run-rate price synergies of $35m inside two years post-closing, with a considerable portion realised inside the first 12 months. On a pro-forma foundation for fiscal 12 months 2024, the mixed firm is projected to have generated $1.7bn in income with a non-GAAP gross margin of 44%, alongside an adjusted EBITDA of $387m.
Put up-merger governance will function a board comprising 11 administrators, of which six are from Axcelis and 5 might be from Veeco.
Russell Low, who’s presently president and CEO of Axcelis, will assume the identical roles within the mixed entity. James Coogan, at the moment the chief monetary officer at Axcelis may also retain the identical function within the new entity, which might be headquartered in Beverly, Massachusetts.
Finalisation of this merger stays topic to customary closing situations and regulatory approval from China’s State Administration for Market Regulation.
Final week, Axcelis launched the Purion H6 excessive present ion implanter to handle the wants of next-generation semiconductor units with a give attention to purity, precision, and productiveness. This method builds on the established Purion H line by incorporating new applied sciences to assist superior manufacturing.
The Purion H6 encompasses a excessive throughput beamline with enhancements in supply life, particle management, and dosimetry, enhancing beam high quality and system reliability. It’s designed to deal with challenges throughout varied purposes in logic, superior reminiscence, picture sensors, and mature expertise markets.
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