Entegris, the Billerica, Mass., provider of specialty chemicals for microelectronics, said Monday that it paid $165 million for MPD Chemicals.
The privately-held MPD is a provider of advanced materials for use in specialty chemicals, life sciences and technology. It is based in Ambler, Pa.
Entegris, which financed the deal with cash on hand, said MPD would grow and diversify its engineered-materials portfolio.
The deal follows Entegris’s early-March acquisition of Digital Specialty Chemicals, the Toronto provider of advanced materials to the semiconductor, specialty chemical, and pharmaceutical industries.
In April a plan for Entegris to combine with Versum Materials, the Tempe, Ariz., provider of chemicals, gases and equipment used to produce semiconductors, fell through.
Merck KGaA of Germany agreed to buy Versum for $53 a share, or an enterprise value of 5.8 billion euros ($6.53 billion). Entegris received a $140 million deal-termination fee.
For the first quarter, Entegris earned 24 cents a share compared with 40 cents in the year-earlier period. Adjusted earnings were 50 cents against 47 cents. Sales rose 6.5% to $391 million.
Entregris shares were trading down 0.14% to $36.60 on Monday.
By Rob Daniel
Source: The Street
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