Applied Materials has signed a definitive agreement to acquire Kokusai Electric for $2.2 billion in cash from investment firm KKR.
For years, Kokusai Electric was a subsidiary of Hitachi. It sells epitaxial, thermal processing and other equipment. Then, as part of a complex business deal, KKR in 2017 acquired the semiconductor equipment business of Hitachi Kokusai Electric from Hitachi.
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