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novellus

Lam Research to buy Novellus Systems for $3.3B

Semiconductor equipment maker Lam Research has agreed to acquire rival Novellus Systems in an all-stock deal worth $3.3 billion, the companies announced today.

The combined venture is expected to benefit from the individual companies' complementary product capabilities, with Novellus' thin-film application technology aligning with Lam's business of etching the film to create features that define a chip's final use and function.

Under the agreement's terms Novellus stockholders will get 1.125 shares of Lam common stock for each Novellus share, a premium of about 28 percent higher than Novellus' $34.70 closing price Wednesday. When the … Read more

Novellus sued for racial bias

The federal government is suing seminconductor company Novellus for discrimination and racial bias on behalf of an African-American employee who says he was forced to leave his job after complaining about a fellow worker's racially insensitive behavior.

Assembly technician Michael Cooke complained to his bosses about a fellow employee who listened to and sang along to rap lyrics aloud, which included slurs against African-Americans.

"That kind of language pains me. The N-word is not something I take lightly," Cooke told the San Francisco Chronicle.

When his co-worker's behavior did not stop and Cooke complained again, Cooke … Read more