Cabot Microlectronics of Aurora completes NexPlanar acquisition

AURORA - Cabot Microelectronics Corp. said it has completed its acquisition of NexPlanar Corp. at a cost of approximately $142.3 million.

NexPlanar, an Oregon-based company that specializes in the development, manufacture and sale of advanced CMP pad solutions for the semiconductor industry, and had been privately held and had approximately $15 million of cash and no debt at closing.

Cabot Microelectronics funded the acquisition from its available cash balance.

"We are excited to begin integrating NexPlanar with our CMP consumables business to expand our pad product offerings with a complementary technology that has been adopted in advanced applications by technology leading customers," said Cabot Microelectronics President and CEO David Li. "We are confident that our leadership in CMP slurries, combined with an expanded CMP pad portfolio, will enable us to better serve the needs of our customers around the world, including the delivery of performance differentiated slurry and pad consumable sets.

"We believe that this acquisition will accelerate growth in our CMP pads product area and contribute to continued meaningful profitable growth for our company," Li added.