ASML to Acquire Cymer
By Mark LaPedus
Seeking to accelerate the development of extreme ultraviolet (EUV) lithography, ASML Holding NV has entered into a definitive agreement to acquire Cymer for 1.95 billion euros ($2.6 billion) in cash and stock.
As part of the transaction, ASML will also acquire Cymer’s deep UV source business. The move follows ongoing delays with EUV, due in part to the power source. For years, Cymer has been developing the EUV source, but the company has struggled to meet its specified targets. Analysts believe that EUV may be too late for the 14nm node, but now there are growing fears that the technology is in danger of missing the 10nm window.
The sole EUV tool supplier, ASML, is expected to ship its NXE:3300B, a full-blown, 13.5nm EUV production tool, later this year. In January, ASML promised an acceptable throughput of 69 wafers an hour for the tool.
Amid ongoing delays for the EUV light source from Cymer, ASML in July lowered its targets and promised a throughput in the “30ish” range in terms of wafers per hour this year. It’s possible that ASML may not deliver 70 wafers per hour for the machine until 2014, according to Barclays Capital.
Intel’s recent decision to invest as much as $4.1 billion in ASML has raised overall confidence levels in EUV lithography. TSMC and Samsung have also invested in the Dutch-based lithography giant.
But apparently, ASML, and its customers, have run out of patience. Cymer’s EUV light sources have for some time been exposing wafers at up to 11 Watts source power at customer facilities, resulting in NXE:3100 productivity of up to 7 wafers per hour. The NXE:3100 is a pre-production machine.
ASML and Cymer made progress during the summer and have now proven in laboratories a sustained 30-Watt source exposure power potential, which would enable the NXE:3300B to expose 18 wafers per hour. ASML’s specified target remains at 105 Watts or 69 wafers per hour (wph), to be achieved for 2014 microchip production.
In a statement, Eric Meurice, president and CEO of ASML, said: “We expect the merger to make EUV technology development significantly more efficient and simplify the supply chain and integration flow of the EUV modules. We are also very much encouraged by the opportunities that we expect to create around Cymer’s growing advanced Immersion systems and dry deep ultraviolet (DUV) installed base products (IBP) business.”
The transaction, which was unanimously approved by the boards of directors of ASML and Cymer, would entitle each Cymer shareholder to receive $20.00 in cash and a fixed ratio of 1.1502 ASML ordinary shares per Cymer share.
October 19th, 2012 at 3:29 am
That is good for both and for the EUV
ex Cymer employee
October 19th, 2012 at 3:30 am
good job, for both companies and for EUV development
ex Cymer, and supplier for other eq at ASML