AMAT and Tokyo Electron merge to form Eteris
The new company will be focused on creating and enabling technology innovations that improve the way people live
Applied Materials, Inc. and Tokyo Electron Limited have unveiled the new name and logo of their combined company which will be used once the merger closes.
Derived from the concept of eternal innovation for society, Eteris embodies the spirit of what will drive the new company and speaks to what makes the combination unique.
"The new name for our combined company builds on the strong legacies of Applied Materials and Tokyo Electron, creating something even greater than the sum of the two," says Tetsuro Higashi, chairman, president and CEO of Tokyo Electron. "At the time we announced our plans to merge, we said this was a bold step forward for our industry. The name Eteris demonstrates our commitment to a new and exciting future for our company to create and enable technology innovations that improve the way people live."
"Eteris is innovative and forward-looking and our logo symbolises expanding future opportunities driving a new era of innovation and growth," says Gary Dickerson, president and CEO of Applied Materials. "With a new name, mission and vision, we are bringing our new company into focus so that we can move quickly, execute our combined strategy and begin to create value as soon as the merger closes."
Eteris captures the company's focus on innovations that will enable its customers and move the industry forward. Core to Eteris is the promise to leave a positive and lasting impact on the world. Paired with the name is a bold logo that celebrates Eteris' role in realising the incredible possibility of technology.
At the heart of the mark, the bright green square symbolises the energy of the new company, the power of its technology and the foundation of innovation it provides to enable customer success. From the green foundation, bright colours and new dimensions expand, representing the many innovations Eteris will make possible every day. The logo represents expanding future opportunities that drive new innovation and growth.
The unveiling of the new company's name and logo are the latest milestones in the merger's progress. Last month the stockholders of Applied Materials and Tokyo Electron declared strong support for the combination. Approximately 99 percent of the shares voting at the Applied Materials stockholder meeting and 95 percent of the shares voting at the Tokyo Electron stockholder meeting voted to adopt the proposed business combination. These results underscore the value the combination brings to stockholders.
The closing of the business combination remains subject to customary conditions set forth in the parties' Business Combination Agreement, including review by regulators in various countries. Applied Materials and Tokyo Electron expect the transaction to close in the second half of 2014.
Applied Materials CEO Gary Dickerson, left, and Tokyo Electron Chairman and CEO Tetsuro (Terry) Higashi, right, unveil 'Eteris' the new name of their combined company once the merger is approved, at an event on Monday, July 7th, 2014, in San Francisco, California
