Veeco Instruments Inc. has announced an updated timeline for its proposed merger with Axcelis Technologies, Inc. The companies now expect the transaction to close by the end of the first quarter of 2027. This timeline update is subject to the satisfaction or waiver of all customary closing conditions.
The merger, originally agreed upon on September 30, 2025, involves Victory Merger Sub, Inc., a wholly owned subsidiary of Axcelis, merging with and into Veeco. Upon completion, Veeco will survive as a wholly owned subsidiary of Axcelis.
The completion of the merger remains contingent upon obtaining regulatory approval from the State Administration for Market Regulation of the People’s Republic of China (SAMR). The companies stated that they are continuing to work constructively with SAMR to obtain clearance. Additionally, due to the expiration of the current clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the parties plan to make a new submission under the Act. The closing is also conditioned upon the expiration or early termination of the waiting period for this new submission.
Under the terms of the merger agreement, each share of Veeco common stock will be converted into 0.3575 shares of Axcelis common stock at closing.
