Entegris, Inc. (NASDAQ: ENTG) has acquired CMC Materials, Inc. (NASDAQ: CCMP) in a stock and cash transaction for an enterprise value of $6.5 billion.

CMC is a supplier of advanced materials for the semiconductor industry. The deal will expand Entegris’ service set by creating a comprehensive electronic materials offering. The firm’s complementary service offerings will enable Entegris to bring a broader array of services to market. Entegris will offer a full end-to-end suite of CMP services.

“The combination provides immediate and substantial value to CMC Materials shareholders and provides meaningful participation in the long-term growth opportunities created by the transaction,” said David Li, president and CEO of CMC Materials. “CMC Materials and Entegris share highly complementary businesses and capabilities grounded in world-class innovation and customer collaboration.”

“The highly complementary combined portfolio creates the industry’s most comprehensive and innovative end-to-end electronic materials offering, as well as significantly expands our growing served market and content per wafer opportunity,” commented Bertrand Loy, Entegris president and CEO. “In addition, we believe the acquisition will allow us to unlock significant growth through enhanced innovation, scale and execution.”

Morgan Stanley & Co. LLC is serving as exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Entegris. Goldman Sachs & Co. LLC is serving as financial advisor to CMC Materials, and Wachtell, Lipton, Rosen & Katz is serving as legal counsel.