Axcelis(US:ACLS)2025-10-01 12:30Transaction Overview - Axcelis and Veeco are combining to create an industry-leading semiconductor equipment company[1,29,55] - The transaction is an all-stock deal where Veeco shareholders will receive 03575 Axcelis shares for each Veeco share[52] - The combined company will be headquartered in Beverly, Massachusetts and assume a new name and ticker symbol[52] - The transaction is expected to close in the second half of 2026, subject to shareholder and regulatory approvals[52] Financial Highlights - The combined company will have a pro forma cash position exceeding $900 million[24,28,30,52,56] - The combined company's 2024 revenue is approximately $17 billion[27,36] - The combined company's non-GAAP gross margin is 44%[27,30,56] - The combined company's adjusted EBITDA is approximately $387 million[28,30] - The combined company expects to realize $35 million in annual run-rate cost synergies within 24 months after closing[52,53] Strategic Rationale - The combination expands the addressable market opportunity to over $5 billion[30,56] - The merger creates a broader product portfolio and complementary end markets[22,23,25,30,35,36,41,42,44,45] - The combined company will have a robust R&D and innovation engine[23]