US-based semiconductor technology developer NexPlanar is set to be acquired by peer Cabot Microelectronics for approximately $142m, providing exits to chip maker Intel, semiconductor technology supplier Entegris and electronics company Samsung.
The deal, which could rise in value by an additional $2.3m dependent on unvested shares, was agreed yesterday and is expected to close within a month and a half.
Founded in 2003, NexPlanar provides chemical mechanical planarisation pad technology used in the production of silicon wafers. The company has approximately $15m in cash left in its coffers, after raising $41.7m in funding according to regulatory filings.
The company’s backers include Intel Capital and Samsung Ventures, the respective corporate venturing units of Intel and Samsung, Entegris, InterWest Partners, BlueRun Ventures, SmartForest Ventures and Finaventures.
James LaCasse,CEO of NexPlanar, said: “We are proud of our technology and the business we have earned, and we believe that partnering with Cabot Microelectronics will enable faster growth and better support of our customers through their extensive research, development, sales and global supply chain capabilities.
“We look forward to being part of the Cabot Microelectronics family and contributing to its business worldwide.”