plans to buy
, a maker of equipment used to manufacture flat-panel displays, solar cells, flexible electronics and energy-efficient glass.
Semiconductor-equipment maker Applied Materials will pay $28.50 a share for each Applied Films share. Overall, the deal is valued at roughly $464 million.
Applied Materials said Thursday that the acquisition will complement its thin-film nanomanufacturing technology abilities and provide it with an opportunity to expand into growing new markets.
Shares of Applied Materials were gaining 48 cents, or 2.7%, to $18.54. Applied Films was up $5.02, or 21.9%, to $27.99.