Nasdaq-listed Cabot Microelectronics Corporation, the world's leading supplier of chemical mechanical planarization (CMP) polishing slurries to the semiconductor industry, has entered into a definitive agreement to acquire the shares of Epoch Material Co., Ltd. (Epoch), a consolidated subsidiary of Eternal Chemical Co., Ltd.

Epoch is a Taiwan-based company specializing in the development, manufacture and sale of copper CMP slurries and CMP cleaning solutions to the semiconductor industry, as well as color filter slurries to the liquid crystal display (LCD) industry.

Under the share purchase agreement, Cabot Microelectronics will purchase Epoch for a total purchase price of US$66 million. Cabot Microelectronics will initially obtain 90 percent of Epoch's stock, with the remaining 10 percent to be transferred eighteen months later.

During this interim period, Eternal will hold a minority ownership interest in Epoch.

Market analysts believe that Cabot Microelectronics' acquisition of Epoch is aligned with its strategy to strengthen and grow its core CMP consumables business.

The shares of Cabot Microelectronics closed on Thursday at $26.26, up 6.28% compared to previous close of $28.02.