[News] Applied Materials to Double BESI Stake to 20% on Hybrid Bonding Demand, Pending U.S. Antitrust Review

What happened

Applied Materials plans to increase its stake in Dutch company BE Semiconductor Industries (BESI) from 9% to approximately 20%, deepening a partnership focused on advanced packaging technologies for AI chips. The transaction is structured through an accelerated share purchase agreement and is subject to U.S. antitrust review; the company said it does not intend to increase its stake beyond approximately 20% or seek representation on BESI's board. Applied Materials became BESI's largest shareholder after acquiring a 9% stake in April 2025; the two companies have collaborated on hybrid bonding technology since 2020 and jointly developed Kinex, an integrated die-to-wafer hybrid bonding system. According to ijiwei, BESI holds approximately 70% of the global hybrid bonding equipment market. According to Reuters on October 22, BESI's third-quarter orders rose 96% year over year to €342.6 million, and hybrid bonding equipment orders in the first nine months of 2026 more than doubled compared with the full-year 2025 level; BESI's latest earnings release shows its hybrid bonding customer base has expanded to 23, with cumulative equipment demand exceeding 215 systems. According to ijiwei, Chinese equipment maker Piotech generated RMB 136 million in hybrid bonding equipment revenue in 2025, up 41.92% year over year, and secured repeat orders for its wafer-to-wafer hybrid bonding systems.

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Source: TrendForce · 10/26/2026 · View original source