Boston, MA 06/13/2014 (wallstreetpr) – Applied Materials, Inc. (NASDAQ:AMAT) gets an opportunity to extend its expertise in engineering of precision materials, to silicon-based applications and other biotechnology growth opportunities. In a recent round of funding by Applied Ventures LLC, which is the venture capital arm of Applied Materials, the venture capital has invested in Twist Bioscience Corporation, which has a semiconductor based proprietary technology platform for manufacturing of synthetic gene.
Formed in 2005, Applied Ventures has invested more than $180 million in a portfolio consisting of more than 50 companies, especially having expertise in the area of providing technology solutions.
The investment made will be used by Twist Bioscience to go for development of its technology platform as well as to improve the quality, cost & throughput of the next generation of silicon-based technologies. Twist Bioscience aims to tap the transition of the industry from glass and plastic substrates to those made using silicon.
Benefit to Applied Materials:
Applied Materials, Inc. (NASDAQ:AMAT), which is a leading company in providing engineering solutions for precision materials, offers solutions for flat panel display, semiconductor, as well as photovoltaic products used in the solar power generation industry. This investment is a strategic opportunity for Applied Materials to extend its expertise to the next generation of silicon-based applications and tap the growth in the biotechnology sector.
Announcement of Cash Dividend:
In yet another development, the Board of Directors of Applied Materials have announced a per share cash dividend (quarterly) of $.10. Moreover, the proposed business combination of Applied Materials, Inc. (NASDAQ:AMAT) and Tokyo Electron Limited (TSE:8035) which was announced on September, 2013, is expected to be closed by the second half of current year 2014. On the event of the business combination closing before 21 August, 2014, the dividend paid to the stockholders will be on pro-rated basis, with each shareholder receiving a per share dividend of $0.001099 for each day beginning from May 23, 2014. The business combination has received clearance from the CFIUS i.e. the Committee on Foreign Investment in the United States.
