(Associated Press via NewsEdge) ASML Holding, one of the world's largest makers of semiconductor manufacturing equipment, said it agreed to buy privately owned rival Brion Technologies for $270 million in cash.
Netherlands-based ASML didn't provide further financial details. The transaction is due to be completed, subject to regulatory approval, in the first quarter of 2007.
Based in Santa Clara, Calif., Brion was founded in 2002. The company's technology is used in the design and manufacturing of semiconductors.
'Brion's simulation technology combined with ASML's lithography systems will generate value for customers through faster time to market, better imaging quality and higher yield in wafer manufacturing,' ASML chief executive Eric Meurice said.
ASML shares slipped 0.9% to $24.89 in Amsterdam.
© 2006 The Associated Press
© 2006 Dialog, a Thomson business. All rights reserved