Aixtron snaps up Genus for materials play

July 5, 2004 – Aixtron AG, Aachen, Germany, announced it will acquire Genus Inc., Sunnyvale, CA, for $143.2 million in stock. The proposed deal combines Aixtron’s metal-organic chemical vapor deposition (MOCVD) tools with Genus’ atomic-layer deposition (ALD) technology, a combination both firms called “highly complementary” and “an excellent strategic fit.”

Aixtron president and CEO Paul Hyland will retain his titles; William Elder, chairman and CEO of Genus, will join the company’s board. The companies reported a combined profit of $36 million in 2003 on $160 million in revenues.

The deal, approved by both companies’ management and boards but subject to stockholder approval, is expected to close by year’s end.


Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.