SANTA CLARA (dpa-AFX) - Applied Materials, Inc. (AMAT) has agreed to buy Kokusai Electric Corp. from KKR for $2.2 billion. Based in Tokyo, Kokusai Electric is a provider of high-productivity batch processing systems and services for memory, foundry and logic customers. Applied Materials projects the deal to be immediately accretive to non-GAAP earnings per share at close.
'Kokusai Electric has a strong culture of innovation along with excellent customer relationships and serves fast-growing areas of the wafer fab equipment market,' said Gary Dickerson, president and CEO of Applied Materials.
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