Cabot Microelectronics Corp., a supplier of chemical mechanical planarization (CMP) polishing slurries and CMP pads for semiconductor manufacturing, has entered into an agreement to buy NexPlanar Corp.
Under the $142 million acquisition, Cabot expands its core CMP consumables business, particularly in CMP pads. Cabot plans to fund the acquisition using its available cash balance.
NexPlanar’s Element thermoset polyurethane CMP pad technology will mesh well with Cabot’s own Epic thermoplastic polyurethane technology, Cabot says. The deal will also expand Cabot’s sales and technology infrastructure, its supply chain capabilities and quality systems.
David Li, president and CEO of Cabot, says in a statement the expanded CMP pad portfolio will allow the company to deliver differentiated slurry and pad consumable sets to the semiconductor manufacturing industry and will “accelerate growth in our CMP pads area, and more broadly, contribute to profitable growth for our company.”
Headquartered in Hillsboro, Ore., NexPlanar was established in 2003 with 100 employees and has nearly tripled its revenue over the past two years, Cabot says.
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