ASML buys Hermes Microvision for $3.1 billion
Dutch chipmaking equipment outfit ASML has agreed to buy Taiwanese peer Hermes Microvision (HMI) for about $3.1 billion.
The move will strengthen the pair’s technology offering for semiconductor manufacturers and is one of the biggest inbound acquisitions for Taiwan,.
It is the latest consolidation in a global semiconductor industry faced with an increasingly saturated smartphone market.
ASML is the world’s biggest chipmaking equipment supplier, with customers including TSMC, Intel and Samsung. HMI’s technology is used to scan and test for wafer defects in the semiconductor manufacturing process.
Both companies, which already work together, will be able to share research, development and intellectual property under one roof, analysts said, which is key as their customers migrate toward ever smaller and more advanced manufacturing processes.
ASML Chief Executive Peter Wenninck said in a video posted on the company’s website explaining the deal’s rationale. “The times of point solutions are gone. We need integrated solutions.”
ASML’s acquisition of HMI will be part-funded by about $1.69 billion of debt and all the i’s will be dotted and the t’s crossed by the fourth quarter.