KLA-Tencor to buy ICOS Vision for $465.8M

San Jose, Calif.-based KLA-Tencor (Nasdaq: KLAC), which makes semiconductor equipment, said today it plans to buy Belgium's ICOS Vision Systems (OTC: IVISF), a supplier of solar and LED manufacturing equipment, for $465.8 million.

The companies said they expect to close the acquisition to close in the second quarter of this year.

"This acquisition would give KLA-Tencor a significant presence in semiconductor packaging inspection, as well as in fast-growing markets like solar and LED lighting, setting the stage for ongoing growth outside KLA-Tencor's primary market in semiconductor fab operations," said Rick Wallace, CEO of KLA-Tencor.

It's the second big LED acquisition in two weeks. On February 8th, Cree said it would buy LED Lighting Fixtures (see LED maker Cree's light brightens with acquisition).

KLA-Tencor said it plans to buy ICOS shares at Euro 36.50 apiece, a 35 percent premium on the average closing price of ICOS shares over the last 90 days.

KLA-Tencor expects the transaction to be accretive to its earnings per share in the first year.

ICOS's primary business is the design and manufacture of inspection equipment for semiconductor packaging and interconnect applications.

The company's systems also perform inspection of solar wafers and solar cells at different stages of production. ICOS has research and development centers in Belgium, Germany and Hong Kong, and production facilities in Belgium, Hong Kong and China.