Aixtron SE to sell ALD/CVD Memory Product line
Transaction expected to close in the second half of 2017
Deposition equipment firm Aixtron SE will sell its ALD (atomic layer deposition) and CVD (chemical vapour deposition) memory product line, based in Sunnyvale, California to Eugene Technology, a wholly owned US subsidiary of Eugene Technology, South Korea.
Aixtron, Inc, the US subsidiary of Aixtron SE will continue to provide sales and support for its continued businesses, as well as to pursue its thin film encapsulation (TFE) activities.
The agreed purchase price in a range between $45 million and $55 million will be paid in cash at closing. The purchase price includes inventory and other prepaid assets. Due to ongoing business, their value will be determined at time of closing.
The transaction is subject to regulatory approvals, including the Committee of Foreign Investments in the United States (CFIUS) and is expected to close within the second half of 2017.
Management expects that this transaction will not affect the full year 2017 guidance with order intake and revenues between €180 and €210 million. This guidance includes the core business and the ALD/CVD business up to the date of sale.
