DANBURY, Conn.--ATMI Inc. here today announced it has acquired MST Analytics Inc. of Buffalo Grove, Ill., which supplies gas monitoring systems for semiconductor manufacturing facilities. The purchase, valued at $32 million, was conducted with 1.1 million share of ATMI stock in a pooling-of-interest merger.
ATMI said it will offer MST semiconductor gas monitoring systems through its EcoSys subsidiary, which sells environmental abatement and sensing products.
"MST's gas sensing products monitor the toxic gases widely used in manufacturing semiconductors, on both a fab-wide and personal basis," said Peter Kirlin, executive vice president the ATMI Technologies division. "The product line complements EcoSys's rapidly growing monitoring business, added through our TeloSense acquisition in May this year."
Kirlin said MST's lineup of liquid analyzers and process control systems are used in chemicalmechanical planarization (CMP), wet cleaning of wafers, and copper electrochemical deposition. "These products are increasingly required to help optimize the use of chemicals, enabling tighter process control and repeatability of yield-improving process parameters," he said. "We believe these systems create a strategic entry point for A T M I into these important wafer fabrication processes."
In 1998, MST's revenues totaled $19.7 million with a net income of $700,000, according to Dan Sharkey, ATMI chief financial officer. "They are on track for similar revenues in 1999 with a net income that should make this deal neutral to ATMI's earnings this year," he said. "Based on the strategic synergies between the companies, we expect this transaction to be accretive in 2000. Because we completed two acquisitions during the fourth quarter, we expect to take a one-time charge of up to $2.5 million during the quarter. This charge is for customary investment banking, legal, and accounting fees for these transactions."