Aixtron and Genus finally complete merger
Germany headquartered MOCVD equipment manufacturer Aixtron has finally acquired Genus, a supplier of atomic layer deposition (ALD) technology to the semiconductor and hard disk drive industries.
Aixtron first announced the planned merger with Genus back in July 2004 (see related story), but the deal was only clinched on March 10 at a special meeting of Genus' shareholders, where a 61 percent share of the vote was in favor of the acquisition.
Genus' shareholders have now been issued with Aixtron American Depositary Shares (ADS), equivalent in value to Aixtron ordinary shares. The Aixtron ADS started trading on the NASDAQ on March 11.
"We would like to thank all of our shareholders for their support on this very important strategic move," said Genus CEO Bill Elder.
"In the combined companies' portfolio, Aixtron's leading MOCVD equipment for the production of LEDs, high frequency chips and lasers, and in particular their atomic vapor deposition technology, will nicely complement Genus' ALD technology, which is required in the production of advanced semiconductors and hard disk drives."
Paul Hyland, Aixtron CEO, added: "This transaction enables us to leverage the two companies' complementary strengths and gain the critical mass required to successfully compete in both the compound semiconductor and the semiconductor equipment industry."
