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Graphite-based products specialist Poco Graphite is to be acquired by Entegris, following the signing of a definitive agreement to acquire the privately-held company in an all-cash transaction valued at $158 million. According to Entegris, Poco generated revenues of more than $60 million, of which approximately 40 percent was from sales to semiconductor-related customers.

"This transaction adds to our core materials science competencies, significantly broadens our range of high-performance consumable offerings, and enables us serve more customers in more ways," said Gideon Argov, President and CEO of Entegris. "As such, it is an opportunity to increase our revenues and earnings, accelerate our growth, create economies of scale and build value for our shareholders. Poco, together with the Entegris Specialty Coatings business that we acquired in August 2007, will form the foundation of a materials-based, consumable products business that has a strong presence in semiconductors but is also well-positioned in other growth areas. With 60 percent of its revenue coming from outside the semiconductor industry, Poco provides us with existing sales and growth opportunities in the medical, aerospace and specialty industrial markets," Argov said.

The deal is expected to close in the third quarter of 2008, and Poco will become a wholly-owned subsidiary of Entegris.