Dallas, Texas 02/26/2014 (FINANCIALSTRENDS) – Applied Materials, Inc.(NASDAQ:AMAT) has announced that the it has received approval from the Committee on Foreign Investment in the United States to go ahead with the merger proposition.
Applied Materials, Inc.(NASDAQ:AMAT) along with Tokyo electron Limited had announced that the two companies would merge to form a new entity. The announcement was made in September of 2013. The new entity shall be called as New Global Innovator.
However, Applied Materials, Inc.(NASDAQ:AMAT) cannot commence working as a single unit with Tokyo Electron as yet. The new entity now needs to seek approval from multiple regulatory organizations spread across the world.
Applied Materials, Inc.(NASDAQ:AMAT) has been one of the reputed organizations which has engaged in a variety of research and development based product and technology development for the electronic and semiconductor niche. The company’s services as a software are as exceptional as its equipment and manufacturing standards.
The team at Applied Materials, Inc.(NASDAQ:AMAT)has come from an older organization at which many of the members worked but wanted to better innovation and technology development brought to the table. Hence AMAT has always been able to provide cutting edge and next generation technology for diverse streams and applications such as flat panel display, or photovoltaic cells and related products. The technologies this company currently produces has been driving smartphones as well as TV screen displays.
On the other hand, Tokyo Electron Limited has been a supplier of products such as flat display screens and the semiconductor division. It has typically been the groundsmen for some of the highest technology evolutions for flat screen display, photovoltaic panel and similar equipment from around the world.
Both of these companies have been striving to bring their respective strengths together and drive technical and global innovation. The merger will be an all-stock combination and the new company will be valued at $29 billion.