Axcelis and Veeco to merge
Axcelis Technologies and Veeco Instruments have agreed to combine in an all-stock merger. The resulting company is expected to have an enterprise value of around $4.4 billion based on Axcelis' and Veeco's closing share prices as of September 30, 2025, and outstanding debt as of June 30, 2025.
The combination will create the fourth largest US wafer fabrication equipment supplier by revenue, and will offer a product portfolio spanning ion implantation, laser annealing, ion beam deposition, advanced packaging solutions and MOCVD.
"This combination marks a transformational milestone for both Axcelis and Veeco, establishing a new leader in semiconductor capital equipment with complementary technologies, a diversified portfolio and an expanded addressable market opportunity," said Russell Low, president and CEO of Axcelis.
He added: "We have long admired Veeco's history of innovation and its track record of delivering breakthrough products. I had the privilege of previously working at Veeco and I hold deep appreciation for its incredible talent, culture and innovation. Together, we will be well-positioned to serve large and growing end markets poised to benefit from significant secular tailwinds, creating exciting opportunities for employees and accelerating next-generation innovation for our customers."
"This merger capitalises on the core competencies of both Veeco and Axcelis to address our customers' critical needs," said Bill MiIler, CEO of Veeco. "With increased R&D scale, the combination of these two exceptional businesses will accelerate our ability to solve material challenges, enable advanced chip manufacturing and build an even stronger company that can deliver superior value for all stakeholders."
