Applied Materials to acquire Japan's Kokusai Electric for $2.2b in cash deal

Photo by Harrison Broadbent on Unsplash

Applied Materials Inc, the world’s biggest supplier of chipmaking equipment, said on Monday it would buy Japanese peer Kokusai Electric for $2.2 billion in cash from global investment firm KKR & Co Inc.

The move comes amid rising competition for providing cutting-edge semiconductors for use in fifth-generation (5G) telecommunications equipment.

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