Semitool Acquired By Applied Materials For $364M

Kalispell, Montana-based Semitool, a developer of electrochemical plating and wafer surface preparation equipment for the semiconductor industry, has been acquired by Silicon Valley firm Applied Materials, Applied said today. AMAT said it would pay $11 per share in cash for the outstanding shares of Semitool, or approximately $364M. Semitool will become a business unit of Applied's Silicon Systems Group. No details on the impact on local employment was given by the firms.