Veeco Instruments has acquired Ultratech for around $862.3m, creating an equipment supplier to the advanced packaging industry.
Ultratech is engaged in the supply of lithography, laser-processing and inspection systems, which are used in the manufacturing of semiconductor devices and LEDs.
Under the deal, Veeco has paid Ultratech shareholders with $21.75 in cash and 0.2675 shares of its common stock for each Ultratech common share outstanding.
Veeco produces MOCVD, lithography, laser annealing, ion beam and single wafer etch & clean technologies, which are used to produce LEDs for solid-state lighting and displays, as well as fabricate semiconductor devices.
Ultratech carries out operations in three core markets, including front-end semiconductor, back-end semiconductor, and nanotechnology.
The company supplies lithography products for bump packaging of integrated circuits and high-brightness LEDs. It also supplies laser spike anneal technology for the production of advanced semiconductor devices.
In addition, the firm offers coherent gradient sensing (CGS) technology for the semiconductor wafer inspection market and atomic layer deposition (ALD) tools for the research organizations such as academic and industrial institutions.
Veeco chairman and CEO John Peeler said: "We are excited to complete this strategic transaction, which establishes Veeco as a leading equipment supplier to the growing advanced packaging industry.
"This compelling combination increases our scale while bringing together complementary technologies and a strong talent pool. We believe this is the ideal platform to accelerate growth, enhance profitability and deliver significant value for our customers and shareholders."