ASMI agrees purchase of copper deposition company
ASMI currently owns preferred stock representing 15% of the fully-diluted common stock of NuTool. ASMI will acquire the remaining 85% in exchange for shares of ASMI common stock. The number of shares to be issued will be determined by the market value of ASMI common stock on the closing date. The current market value of ASMI common stock puts the deal at less than 4% of the total ASMI shares outstanding, plus up to an additional 2% over the next three years based on NuTool's achievement of various performance targets.
ASMI's traditional strengths in wafer processing equipment have been in the area of front-end-of-line (FEOL) or transistor formation. ASMI sees potential links with its low-k dielectric technologies.
Homayoun Talieh, president and founder of NuTool, comments: "ASMI and NuTool have already enjoyed a very successful two-year co-operative partnership addressing process integration in advanced interconnect."
The transaction is subject to NuTool stockholder approval and is expected to close in May 2004.
