Reuters: Private Equity: UPDATE 1-Ultra Clean to buy private co for $99 mln

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UPDATE 1-Ultra Clean to buy private co for $99 mln May 18th 2012, 21:20 Fri May 18, 2012 5:20pm EDT * Says to pay $74 mln in cash and issue 4.5 mln in stock * Expects deal to add to earnings on close * Shares up 3 pct in after-market trade May 18 (Reuters) - Semiconductor gear maker Ultra Clean Holdings Inc said it would buy privately held American Integration Technologies LLC (AIT) for about $99 million in a cash-and-stock deal to expand its operations and add customers. Under the deal, Ultra Clean will pay AIT $74 million in cash and issue 4.5 million shares. Ultra Clean sad it expects the deal to add to earnings after close of the transaction, which is expected on June 30. "Through this acquisition, we add scale and new capabilities and full systems integration as well as increase our customer base," Ultra Clean Chief Executive Clarence Granger said in a statement. Founded in 1983, AIT is headquartered in Chandler, Arizona, and had about $170 million in revenue in its fiscal year ended Dec. 31. It supplies critical subsystems to the semiconductor capital equipment, medical, energy, industrial and aerospace industries. Shares of Hayward, California-based Ultra Clean rose 3 percent in extended trading. They closed at $5.32 on the Nasdaq on Friday. Link this Share this Digg this Email Reprints

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