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Applied Materials-Tokyo Electron merger to form Eteris

Mergers and acquisitions continue to reshape the chip industry, with Applied Materials and Tokyo Electron soon to combine as Eteris, and Atmel snapping up Newport Media. Chip gear makers Applied Materials (AMAT) and Tokyo Electron announced late Monday that once their merger closes, the new company will be called Eteris. The name is derived from “eternal innovation for society.” The two firms announced their merger on Sept. 24. Applied Materials and Tokyo Electron will combine their skills in semiconductor and display manufacturing equipment to better compete against industry giant ASML Holding (ASML). The deal, which the companies billed as a merger of equals, though Applied shareholders will own most of the company, is expected to close this year, pending government regulatory