Versum Materials, Inc. (Tempe, Ariz.; www.versummaterials.com), a global materials supplier to the semiconductor industry, announced that it has agreed to acquire Dynaloy, LLC from Eastman Chemical Co. (Kingsport, Tenn.; www.eastman.com) for approximately $13 million. Dynaloy is a leading supplier of formulated cleaning solutions for the semiconductor and specialty manufacturing industries.
“We are excited for the Dynaloy team to join Versum,” said Edward Shober, Senior Vice President, Materials. “With a strong patented product portfolio and customer relationships, the acquisition of Dynaloy exemplifies Versum’s strategy to enhance its surface prep and clean (SP&C) technology capabilities and product offerings to the growing advanced packaging materials market in the semiconductor industry.”
Versum Materials’ SP&C technologies are used to selectively etch and remove residue and contamination during multiple steps of the integrated circuit fabrication process. After closing, Dynaloy’s business will be integrated into Versum’s portfolio of SP&C formulated product offerings and will strengthen and accelerate its growth in Advanced Packaging, one of the fastest growth segments in the cleans market.
“Dynaloy’s business with its technology, products, people, skills, knowledge, and expertise complements Versum’s SP&C business,” said Dr. Tianniu Rick Chen, General Manager for Materials’ Surface Preparation & Cleans. “Together, we look forward to continuously driving value for our customers through innovative advanced cleaning offerings.”
The transaction is expected to close during the fiscal fourth quarter 2017. It will be funded from cash on hand and is expected to be accretive to earnings in the first full year of operation. Versum Materials became an independent company last year when Air Products spun off its Electronic Materials business.