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MKS Instruments Makes $295M Buy

Enhancing its offerings for the semiconductor and IT manufacturers, MKS Instruments , of North Andover, Mass., will buy ENI, of Rochester, N.Y., for $295 million in stock.

ENI, a division of Emerson Electric , supplies radio frequency and direct current plasma power supplies, networks and instrumentation to the semiconductor and thin-film processing industries.

For the year that ended Sept. 30, the two companies posted combined revenues of $490 million.

"This acquisition expands our comprehensive suite of products, and exemplifies our strategy to acquire and leverage technologies that surround the manufacturing process chamber," said John Bertucci, MKS chairman, CEO and president.

ENI has research and development, engineering and manufacturing operations in the United States and Asia and a worldwide sales and service organization. When the deal closes, Emerson president James Berges will join the MKS board of directors.

ENI's St. Louis-based parent is in the midst of a restructuring that includes job cuts and divestitures. Emerson has about 380 manufacturing facilities worldwide and more than 120,000 employees.

Shares of MKSI rose 0.519, or 2 percent, to 24.6 in morning trading. In the last 52 weeks, the issue has ranged from 15.17 to 31.97.