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Cabot Microelectronics

(CCMP) - Get CMC Materials Inc. Report

said Thursday it agreed to buy the assets of

QED Technologies

for $19 million to $23.5 million, with the exact amount dependent upon the performance of the QED's business over the two years.

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The company said the purchase price will be paid in cash from its available reserves and it also plans to assume about $2 million of current liabilities of QED.

The transaction includes QED's associated technology and intellectual property and is expected to close in July.

QED, a privately-held company that specializes in unique, patented polishing and metrology systems for high precision optics, generated annual revenue of $12 million in the last calendar year.

Cabot Microelectronics shares were up $1.05, or 4%, to $27.09 in recent trading.

This story was created through a joint venture between and IRIS.