Axcelis Technologies and Veeco Instruments to Combine, Creating a Leading Semiconductor Equipment Company

BEVERLY, Mass., and PLAINVIEW, N.Y., Oct. 1, 2025 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS) and Veeco Instruments Inc. (Nasdaq: VECO) today announced that they have entered into a definitive agreement to combine in an all-stock merger. The combined company is expected to have an enterprise value of approximately $4.4 billion based on Axcelis' and Veeco's closing share prices as of September 30, 2025, and outstanding debt as of June 30, 2025.

Together, Axcelis and Veeco will be a leading semiconductor equipment company serving complementary, diversified and expanding end markets. The combined company will have an attractive operating profile, a robust R&D innovation engine and an expanded product portfolio with opportunities for cost and revenue synergies. On a pro-forma basis for Fiscal Year 2024, the combined company generated revenue of $1.7 billion, non-GAAP gross margin of 44% and adjusted EBITDA of $387 million. These pro-forma figures do not reflect the anticipated synergies of the combination.