Applied Materials to Acquire Etec

Applied Materials Inc. of Santa Clara, the world’s largest maker of semiconductor manufacturing equipment, said it will buy Etec Systems Inc. in a stock deal. The companies said each share of Etec’s stock will be exchanged for 0.649 share of Applied Materials’ common stock. Hayward, Calif.-based Etec makes technology for masks used to print the circuitry patterns on chip wafers. The companies did not specify the value of the transaction. Applied Materials shares rose $6.25 to close at $127.06, and Etec Systems closed up $7.31 at $49.88, both on Nasdaq.