Applied Materials Inc., Santa Clara, Calif., and Tokyo Electron Ltd., announce that the name of their combined company is Eteris (ETERnal Innovation for Society). Last month approximately 99% of the shares voting at the Applied Materials stockholder meeting and 95% of the shares voting at the Tokyo Electron stockholder meeting voted to adopt the proposed business combination.
“The new name for our combined company builds on the strong legacies of Applied Materials and Tokyo Electron, creating something even greater than the sum of the two,” said Tetsuro Higashi, chairman, president and CEO of Tokyo Electron. “At the time we announced our plans to merge, we said this was a bold step forward for our industry. The name Eteris demonstrates our commitment to a new and exciting future for our company to create and enable technology innovations that improve the way people live.”
“Eteris is innovative and forward-looking and our logo symbolizes expanding future opportunities driving a new era of innovation and growth,” said Gary Dickerson, president and CEO of Applied Materials. “With a new name, mission and vision, we are bringing our new company into focus so that we can move quickly, execute our combined strategy, and begin to create value as soon as the merger closes.”
The closing of the business combination remains subject to customary conditions set forth in the parties’ Business Combination Agreement, including review by regulators in various countries. Applied Materials and Tokyo Electron expect the transaction to close in the second half of 2014.
