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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Repair Windows errors before they cause bigger problemsFix Now →Novellus announced plans to acquire Gasonics in October 2000 and completed the purchase on January 10, 2001. The stock deal, reported at about $347 million, added Gasonics’ photoresist-stripping and residue-cleaning tools to Novellus’ thin-film deposition business. Novellus’ stated aim was to bring wafer surface preparation and deposition closer together as chipmakers developed copper and low-k interconnects.
What Novellus announced—and what ultimately closed
On October 26, 2000, EE Times reported that Novellus Systems planned to acquire Gasonics International in a stock-for-stock transaction valued at approximately $347 million. The report put the exchange ratio at 0.52 Novellus shares for each Gasonics share. Those were announced deal terms, not a cash purchase price.
The companies completed the transaction on January 10, 2001. Gasonics shareholders had voted on January 9; Novellus said more than 99 percent of the shares present and voting supported the deal. In its closing announcement, Novellus said it issued approximately 9.24 million shares for outstanding Gasonics stock. The shareholder-approval figure refers only to shares present and voting, not all shares outstanding. EE Times’ October 26, 2000 announcement report and Novellus’ January 10, 2001 closing release describe the announcement and close.
Why a deposition company wanted cleaning tools
Novellus was known for depositing thin films used to build integrated circuits. Gasonics brought a different but related capability: removing photoresist and residue from wafer surfaces. Cleaning and surface preparation take place between manufacturing steps, including before films are deposited. Residue or contamination can complicate the next process, so Novellus argued that coordinating preparation with deposition could help address challenges in advanced interconnect manufacturing.
The company specifically linked the acquisition to copper dual-damascene processes and low-k dielectric materials. Its thesis was that a supplier able to address both surface preparation and deposition could optimize those steps together. That was Novellus’ strategic rationale and expectation—not independent proof that the deal produced a particular yield improvement. Chairman and CEO Richard Hill said at the time that surface preparation could affect the yield and performance of an interconnect structure. EE Times reported Hill’s explanation of the strategy; Novellus’ 2001 Form 10-K describes the manufacturing context and Gasonics’ product capabilities.
What Gasonics added to the portfolio
Novellus described Gasonics as a developer and global supplier of photoresist- and residue-removal solutions for semiconductor manufacturing. Its 2001 Form 10-K names these historical products:
- PEP 3510 Plus: a photoresist-strip system.
- GAMMA 2100: a photoresist-strip system.
- PEP IRIDIA: a residue-clean system.
These models illustrate the capabilities Novellus acquired; their inclusion in a historical filing does not establish that they are sold or supported today. Novellus’ 2001 Form 10-K identifies the systems and their functions.
How the deal changed Novellus’ organization
After the acquisition closed, Gasonics became the nucleus of Novellus’ Surface Integrity Group, a new business focused on surface preparation. Novellus named former Gasonics CEO Asuri Raghavan to lead the unit. The organizational move reflected the deal’s logic: add a dedicated surface-preparation capability alongside Novellus’ deposition expertise. EE Times’ January 11, 2001 post-close report covered the new group and Novellus’ stated technical rationale.
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What the acquisition does—and does not—show
The transaction is best understood as a historical portfolio expansion in semiconductor manufacturing equipment. Novellus was seeking to extend its reach from depositing films into the cleaning and preparation steps that precede them, with copper and low-k processes as the stated strategic context. The available company and trade-press accounts document the deal terms, close, products and rationale; they do not establish a measured post-acquisition yield gain or a present-day source for legacy Gasonics equipment.
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