TEL primary products are litho tracks, diffusion furnaces, and etch tools and also have a variety of wet cleans and CVD. They are the market leader in litho tracks.
ASML doesn't really have a litho track product or cleans products but they basically have all the others excluding litho scanner.
Clearly, this is a move to cut costs, reduce redundancies and inefficiencies. It is a good news for the shareholders and the industry and not so good for the employees; I imagine sales offices will be reduced, marketing trimmed and even R&D will be reorganized. Another hint from a rapidy maturing industry with an unclear path for the future.