Applied Materials buying solar testing systems maker Baccini

Santa Clara, Calif.-based Applied Materials (Nasdaq: AMAT) said today it would acquire Treviso, Italy's Baccini, a supplier of automated metallization and test systems for manufacturing crystalline silicon photovoltaic cells.

Under the terms of the agreement, Applied Materials said it would pay $330 million in cash for Baccini, a privately held company.

"With this acquisition, Applied will become a leading provider of c-Si cell manufacturing solutions to the PV industry," said Mike Splinter, president and CEO of Applied Materials."

"As a key supplier to both the c-Si and thin film solar markets, we are committed to driving down the cost and ramping up the scale of PV manufacturing to make solar energy competitive with grid electricity."

Applied Materials said the deal is expected to close in early 2008, subject to customary closing conditions, including certain non-U.S. regulatory approvals.

"We are especially excited by the opportunity to engage in key efforts to meet this challenge in Italy – a country with strong geographic potential for realizing early grid parity," said Splinter.

Baccini, founded in 1967, provides material handling automation capable of processing wafers less than 120 micrometers thick.

Applied Materials provides equipment, service and software products for the fabrication of semiconductor chips, flat panel displays, solar photovoltaic cells, flexible electronics and energy efficient glass.