California Company Makes Offer to Buy Semitool

Maritsa Georgiou (11/17/09)

A California-based technology company says it's buying Kalispell-based Semitool for $364 million.

Applied Materials, Inc. is a nanomanufacturing company that specializes in things like semiconductor chips, flat panel displays and flexible electronics. Those products are used in every day things such as smart phones, laptops and portable media players.

There's a catch to the deal, though. Applied Materials needs two thirds of Semitool shareholders to approve the offer. About 32% of Semitool's shareholders are directors and executives who have already agreed to sell.

If all goes according to plan, the deal is expected to go through by the end of the year.