Cabot Microelectronics Corporation to Acquire NexPlanar Corporation for $142M

Cabot Microelectronics Corporation

announced today that it has entered into a definitive agreement to acquire NexPlanar Corporation (NexPlanar), a privately-held, U.S. based company that specializes in the development, manufacture and sale of advanced CMP pad solutions for the semiconductor industry.  Under the acquisition agreement, Cabot Microelectronics will purchase 100 percent of the stock of NexPlanar for a purchase price of approximately $142 million, plus up to an additional $2.3 million depending upon treatment of certain unvested stock options held by NexPlanar security holders.  At closing, NexPlanar is expected to have approximately $15 million of cash and no debt.  The company intends to fund the acquisition from its available cash balance. Cabot Microelectronics' acquisition of NexPlanar is directly aligned with its strategy to strengthen and grow its core CMP consumables business, and in particular, CMP pads.  NexPlanar has established meaningful supply positions with technology leading customers for advanced technology node applications.  The Company expects that NexPlanar's innovative ElementTM thermoset polyurethane CMP pad technology will complement its