---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-095693"
form_type: "8-K"
ticker: "ACLS"
cik: "0001113232"
company_name: "AXCELIS TECHNOLOGIES INC"
filed_at: "2025-10-01T23:59:59+00:00"
generated_at: "2026-05-17T05:02:49.734498+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Axcelis to buy Veeco in ~$4.4B all-stock deal; creates 4th largest US wafer fab equipment supplier

## Summary
- All-stock merger with enterprise value ~$4.4B; Axcelis shareholders own 58%, Veeco shareholders 42%.
- Combined 2024 pro forma revenue of $1.7B, 44% non-GAAP gross margin, and $387M adjusted EBITDA.
- Dr. Russell Low to lead combined company as CEO; James Coogan as CFO; Thomas St. Dennis as chair; Dr. Bill Miller to chair Technology Committee.
- Expected close in H2 2026; subject to shareholder and regulatory approvals; Veeco's $230M convertible bonds assumed.
- Transaction expected to be accretive to non-GAAP EPS within first year; combined cash >$900M; share repurchase planned post-closing.

## SEC filing metadata
- accession: 0001104659-25-095693
- form_type: 8-K
- ticker: ACLS
- cik: 0001113232
- company_name: AXCELIS TECHNOLOGIES INC
- filed_at: 2025-10-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1113232/000110465925095693/0001104659-25-095693-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1113232/000110465925095693/tm2527661d3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-095693
- JSON: https://secwatch.observer/filing/0001104659-25-095693.json
- Plain text: https://secwatch.observer/filing/0001104659-25-095693.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.