M&A Deal Summary

Applied Materials Acquires Picosun

On June 16, 2022, Applied Materials acquired semiconductors company Picosun from CapMan and Tesi

Acquisition Highlights
  • This is Applied Materials’ 14th transaction in the Semiconductors sector.
  • This is Applied Materials’ 1st transaction in Finland.

M&A Deal Summary

Date 2022-06-16
Target Picosun
Sector Semiconductors
Buyer(s) Applied Materials
Sellers(s) CapMan
Tesi
Deal Type Add-on Acquisition

Target

Picosun

Espoo, Finland
Picosun is a provider of advanced ALD (Atomic Layer Deposition) thin-film coating technology for global industries and R&D. The company's production-proven ALD solutions enable high-performance IC components, smart sensors, and MEMS devices, brightest LEDs, powder materials functionalization for e.g. medical substances and catalyst manufacturing, and protective, anti-tarnish, barrier, and biocompatible coatings for minting, watchmaking, jewelry, and medical equipment industries. Picosun was formed in 2004 and is based in Espoo, Finland.

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Buyer(S) 1

Buyer

Applied Materials

Santa Clara, California, United States

Category Company
Founded 1967
Sector Semiconductors
Employees34,800
Revenue 26.5B USD (2023)
DESCRIPTION
Applied Materials' corporate headquarters in Santa Clara, California.
Applied Materials' corporate headquarters in Santa Clara, California.

Applied Materials provides manufacturing equipment, services and software to the global semiconductor, flat panel display, solar photovoltaic (PV) and related industries. Applied’s customers include manufacturers of semiconductor wafers and chips, flat panel liquid crystal and other displays, solar PV cells and modules, and other electronic devices. Applied Materials was founded in 1967 and is based in Santa Clara, California.


DEAL STATS #
Overall 20 of 20
Sector (Semiconductors) 14 of 14
Type (Add-on Acquisition) 16 of 16
Country (Finland) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-04 Think Silicon S.A.

Patras Achaia, Greece

Think Silicon S.A. develops and licenses high-performance, ultra-low-power GPUs, and display controller technology for wearables, IoT, home appliances, and industrial automation displays, serving clients worldwide. It has recently been expanding its product line to AI-oriented GPUs, as customers require low power AI processors for Edge Computing. Think Silicon was formed in 2007 and is headquartered in Patras, Greece.

Buy -

Seller(S) 2

SELLER

CapMan

Helsinki, Finland

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 4.9B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CapMan is a private equity group focused on a variety of investments in Scandinavia and Russia. CapMan's buyout group looks to invest €20 to €70 million (€10 to €20 for mezzanine) of capital in unlisted companies generating €50 to €500 million in revenues. CapMan seeks control positions and does not have any sector preferences. CapMan was established in 1989 and has offices in Helsinki, Stockholm, Oslo, Luxembourg, and Moscow.


DEAL STATS #
Overall 37 of 43
Sector (Semiconductors) 1 of 1
Type (Add-on Acquisition) 23 of 25
Country (Finland) 19 of 23
Year (2022) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-18 Hydroware

Alvesta, Sweden

Hydroware develops, manufactures and sells drive and control systems for the modernisation of lifts. The company’s customers include installation and service companies as well as large multinational lift companies. Hydroware was founded in 1998 and is based in Alvesta, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-21 Sarc + Sigge

Helsinki, Finland

Sarc + Sigge designs prominent urban and functionally challenging new buildings and renovation projects. Besides office, retail and residential projects, the company also designs and plan hospital, university and public buildings as well as laboratories and museums. Sarc + Sigge was founded in 1965 and is based in Helsinki, Finland.

Buy -
SELLER

Tesi

Investor Investor Investor Investor Investor


Category Sovereign Wealth Fund
Founded 1995
PE ASSETS 2.4B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Tesi is a Finnish venture capital and private equity firm specializing in fund and direct investments. Tesi specifically targets minority investments in early, growth stage, and established businesses. Areas of interest include industrial, mining, software, business and consumer services, healthcare, life science, cleantech, and marine. Tesi was established in 1995 and it is based in Helsinki.


DEAL STATS #
Overall 28 of 33
Sector (Semiconductors) 1 of 1
Type (Add-on Acquisition) 17 of 19
Country (Finland) 26 of 30
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-25 MeEat

Espoo, Finland

MeEat is a food tech company that develops plant-based alternatives for meat. MeEat is based in Espoo, Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-04 Solnet Green Energy

Diemen, Netherlands

Solnet Green Energy is a provider of smart solar energy installations and support services for business and industrial use. The smartness of Solnet’s installations comprises sensors, protective layers and automatics as well as optimisation, management and surveillance features provided as cloud services. Solnet Green Energy is based in Diemen, Netherlands.

Buy -