A major Dutch semiconductor equipment company has become the target of acquisition efforts from several American firms, driven by increasing demand for specialized chip packaging technology essential to artificial intelligence applications.
BE Semiconductor Industries, traded on Amsterdam’s stock exchange with a valuation of 14 billion euros ($16.20 billion), has received multiple buyout proposals and enlisted Morgan Stanley’s investment banking services to assess these offers, according to three individuals with knowledge of the situation who requested anonymity due to the confidential nature of the negotiations.
Among the companies pursuing the Dutch firm is U.S. semiconductor equipment manufacturer Lam Research, which has engaged in acquisition discussions, one source revealed. Applied Materials, another American equipment producer that purchased a 9% ownership stake in BESI last April to become its top shareholder, also represents a potential buyer, according to multiple sources.
The acquisition conversations began in mid-2025 but experienced a temporary halt earlier this year amid escalating diplomatic tensions between the United States and European Union regarding President Donald Trump’s efforts to gain control over Greenland, one person explained. Any purchase of the Dutch company would require national security clearance due to its strategic technology. Despite this pause, interested parties including Lam Research have maintained their pursuit and recently resumed talks, the source added.
When contacted for comment, BESI, Morgan Stanley, and Applied Materials all declined to respond, while Lam Research did not provide an immediate reply. In 2024, BESI stated its dedication to continuing operations as an independent entity, referencing media coverage about potential strategic transactions involving the company.
The acquisition interest underscores BESI’s valuable position in advanced packaging technology, which plays a crucial role in developing next-generation semiconductors for artificial intelligence and high-performance computing applications.
This advanced packaging currently represents a significant production constraint for the semiconductor industry. BESI and Applied Materials have maintained an extended partnership focused on hybrid bonding technology, which creates direct chip connections through copper-to-copper links, enabling enhanced data transmission speeds and reduced power usage in sophisticated semiconductors.
Degroof Petercam analyst Michael Roeg noted in April that BESI investors “will assume that Applied Materials will eventually want to buy the entire company.”
