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UCT agrees to acquire Quantum Global Technologies
Ultra Clean Holdings ( UCT), a developer and supplier of subsystems for the semiconductor and display capital equipment industries, has signed an agreement to acquire Quantum Global Technologies, LLC (QGT).
QGT is a provider of ultra-high purity, sub-10nm outsourced tool chamber parts cleaning and coating services, tool part life extension, microcontamination analytical services and other optimisation solutions to OEM and IDM customers. "Building on our position as a leading supplier to the semiconductor capital equipment market, today marks a meaningful step in the execution of our longer-term growth strategy to pursue sustained, profitable and diversified growth," said Jim Scholhamer, CEO of UTC, in a press release. "Upon completion, this acquisition will expand UCT into an adjacent market and increase the served addressable market in our core semiconductor business. It will also provide an excellent platform for growth and consolidation. With increased scale, we will extend our leadership position, deliver a suite of innovative and cost-effective solutions for our customers, and drive profitable growth." QuantumClean and ChemTrace are divisions of QGT. QuantumClean engages directly with its semiconductor IDM, Foundry and OEM customers to achieve process improvements in next generation applications by providing ultra-high purity chamber parts, validated by ChemTrace. Partnering with QGT will enable customers to focus on core competencies while removing uncertainties from their process and reducing their total cost of ownership. "This transaction represents a terrific benefit for QGT customers, employees and stockholders," said Scott Nicholas, President and CEO of QGT. "This is an exciting time in the semiconductor industry and, by leveraging our combined capabilities and service offerings, we will deliver a broader range of innovative solutions, further increasing the combined company's strategic relevance to its customers. We look forward to working closely with UCT to ensure a smooth integration." Under the terms of the agreement, the total transaction value is approximately USD 342 million and is structured as an all-cash transaction. The transaction will be subject to post-closing balance sheet adjustments. Additional cash consideration, capped at USD 15 million, will be paid subject to QGT exceeding certain revenue targets in 2019.
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