Eteris will be the company that will be the outcome of the merger between semiconductor giants, Applied Materials, Inc. and Tokyo Electron Ltd.
A joint press statement by the two companies said the merger is slated for the second half of 2014, their respective shareholders having overwhelmingly approved of the merger last June.
Applied Materials is based in Santa Clara, California while Tokyo Electron is based in Tokyo.
World's Largest Supplier
Writing in Wikipedia, observers said the merger will make the new company the world's largest supplier of semiconductor processing equipment with a total market value of US $29 billion.
The press statement said last June, 99% of shares voting at the Applied Materials stockholders meeting declared support for the merger.
A similar meeting, held also that month, by stockholders of Tokyo Electron Ltd. Saw 95 % of the shares voting having approved of the merger.
Applied Electronics is a vendor of engineering solutions for the global semiconductor industry while Tokyo Electron is a global supplier of semiconductor and flat display panel production equipment.
Sign up for Computerworld eNewsletters.