Applied Materials To Buy Kokusai Electric - Quick Facts

(RTTNews) - Applied Materials, Inc. (AMAT) has agreed to buy Kokusai Electric Corp. from KKR for $2.2 billion. Based in Tokyo, Kokusai Electric is a provider of high-productivity batch processing systems and services for memory, foundry and logic customers. Applied Materials projects the deal to be immediately accretive to non-GAAP earnings per share at close.

"Kokusai Electric has a strong culture of innovation along with excellent customer relationships and serves fast-growing areas of the wafer fab equipment market," said Gary Dickerson, president and CEO of Applied Materials.