BE Semiconductor Industries (BESI) is evaluating takeover interest from major chip equipment makers, including Lam Research and Applied Materials, due to the strategic value of its advanced packaging technology. The confidential talks, which began in mid-2025, were paused due to geopolitical tensions but have recently resumed.
The core driver of the interest is BESI's critical role in advanced packaging, a key industry bottleneck that enables next-generation AI and high-performance computing chips. Applied Materials, already BESI's largest shareholder with a 9% stake, is seen as a likely eventual buyer.
Main topics: Potential acquisition of BESI, strategic value of advanced chip packaging technology, interested parties (Lam Research, Applied Materials), and geopolitical influences on the deal.
BE Semiconductor Industries has been fielding takeover interest, as demand for its chip-packaging technology has become more critical for semiconductor equipment makers, according to three people familiar with the matter.
The Amsterdam-listed chip equipment maker, which has a market value of 14 billion euros ($16.20 billion), has been working with investment bank Morgan Stanley to evaluate the approaches, two âof the â people said, â requesting anonymity as the discussions are confidential.
US chip-equipment maker Lam Research is among the suitors that have held discussions with the Dutch company, one of the people said. Other potentially interested parties include equipment manufacturer Applied Materials, which acquired a 9% stake in BESI in April last year and became its largest shareholder, that person and a fourth one said. All four people spoke on condition of anonymity because the talks are private.
The talks, â which started âin mid-2025, hit a pause earlier this year after rising tensions âbetween the âU.S. and European Union over U.S. President Donald Trump's attempts to control â Greenland, one of the people said. The acquisition of a âDutch firm with strategic technology would be subject to a ânational security review. However, bidders including Lam Research remain interested in BESI and have held talks recently, this person said.
BESI, Morgan Stanley and Applied Materials declined to comment, while Lam Research did not immediately respond to a request for comment. In 2024, BESI said it remained committed to executing on its strategy as an independent company, citing media reports of âa strategic deal involving the company.
The interest highlights the strategic value of BESI's advanced packaging, which is expected to help enable new generations of chips used in artificial intelligence (AI) and high-performance â computing.
Advanced packaging is currently a key bottleneck for the industry. BESI and Applied Materials have been long-term partners on hybrid bonding. The technology directly links chips with copper-to-copper connections, allowing for âfaster data transfer and lower power consumption in advanced semiconductors.
In April, Degroof Petercam analyst Michael Roeg said BESI shareholders "will assume that Applied Materials will eventually want to buy the entire company."
The Amsterdam-listed chip equipment maker, which has a market value of 14 billion euros ($16.20 billion), has been working with investment bank Morgan Stanley to evaluate the approaches, two âof the â people said, â requesting anonymity as the discussions are confidential.
US chip-equipment maker Lam Research is among the suitors that have held discussions with the Dutch company, one of the people said. Other potentially interested parties include equipment manufacturer Applied Materials, which acquired a 9% stake in BESI in April last year and became its largest shareholder, that person and a fourth one said. All four people spoke on condition of anonymity because the talks are private.
The talks, â which started âin mid-2025, hit a pause earlier this year after rising tensions âbetween the âU.S. and European Union over U.S. President Donald Trump's attempts to control â Greenland, one of the people said. The acquisition of a âDutch firm with strategic technology would be subject to a ânational security review. However, bidders including Lam Research remain interested in BESI and have held talks recently, this person said.
BESI, Morgan Stanley and Applied Materials declined to comment, while Lam Research did not immediately respond to a request for comment. In 2024, BESI said it remained committed to executing on its strategy as an independent company, citing media reports of âa strategic deal involving the company.
The interest highlights the strategic value of BESI's advanced packaging, which is expected to help enable new generations of chips used in artificial intelligence (AI) and high-performance â computing.
Advanced packaging is currently a key bottleneck for the industry. BESI and Applied Materials have been long-term partners on hybrid bonding. The technology directly links chips with copper-to-copper connections, allowing for âfaster data transfer and lower power consumption in advanced semiconductors.
In April, Degroof Petercam analyst Michael Roeg said BESI shareholders "will assume that Applied Materials will eventually want to buy the entire company."
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