Axcelis-Veeco $4.4bn merger receives shareholder approval

Axcelis Technologies and Veeco Instruments person some secured stockholder support for their antecedently announced merger, aimed astatine establishing a large entity successful the semiconductor instrumentality industry, valued astatine astir $4.4bn.

This all-stock transaction is acceptable to implicit successful the 2nd fractional of 2026.

Initially announced successful October 2025, the merger is projected to make a robust beingness successful the marketplace by combining the strengths of some companies.

Axcelis, headquartered successful Beverly, Massachusetts, has been providing solutions for the semiconductor manufacture for implicit 45 years. The institution specialises successful designing, manufacturing, and supporting ion implantation systems, which are important successful the integrated circuit manufacturing process.

Veeco, headquartered successful Plainview, New York, is engaged successful manufacturing semiconductor process equipment, including technologies similar laser annealing, ion beam deposition, and metallic integrated chemic vapour deposition (MOCVD). These technologies play a cardinal relation successful the fabrication and packaging of precocious semiconductor devices.

The valuation of the combined entity is derived from the stock prices of Axcelis and Veeco arsenic of 30 September 2025, alongside existing debts from 30 June 2025.

Both Axcelis, listed connected Nasdaq arsenic ACLS, and Veeco, listed arsenic VECO, conducted peculiar meetings wherever stockholders voted successful favour of the merger proposals. The outcomes of these votes volition beryllium reported done a Form 8-K filing with the US Securities and Exchange Commission by each company.

Under the presumption of the agreement, Veeco shareholders volition person 0.3575 Axcelis shares for each Veeco stock owned. Upon finalisation, Axcelis shareholders volition ain astir 58% of the merged company, portion Veeco shareholders volition ain astir 42%.

Aimed astatine expanding marketplace reach, the merger volition integrate complementary technologies from some firms, perchance expanding their full addressable marketplace to implicit $5bn. This enlargement is mostly driven by maturation successful AI and related powerfulness solution demands.

Additionally, the combined institution volition diversify its exertion offerings and marketplace segments to amended enactment lawsuit advancements, thereby becoming the 4th largest US wafer fabrication instrumentality supplier by revenue.

The merger's fiscal benefits see anticipated gross synergies done exertion integration and cross-selling opportunities.

Axcelis and Veeco expect yearly run-rate outgo synergies of $35m wrong 2 years post-closing, with a important information realised wrong the archetypal year. On a pro-forma ground for fiscal twelvemonth 2024, the combined institution is projected to person generated $1.7bn successful gross with a non-GAAP gross borderline of 44%, alongside an adjusted EBITDA of $387m.