Picosun Oy has been acquired by Applied Materials, Inc., the leader in materials engineering solutions for semiconductors and advanced displays.
Based in Espoo and Masala, Kirkkonummi in Finland, Picosun is an innovator in atomic layer deposition (ALD) technology, primarily for specialty semiconductors. Picosun’s operations will continue in Finland as part of Applied Materials’ ICAPS (IoT, Communications, Automotive, Power and Sensors) group.
Prior to the acquisition, Picosun’s principal owner was Stephen Industries, Kustaa Poutiainen’s family office. Picosun’s other previous owners included R.Ruth Oy and Hannu Turunen, and more. Additionally, CapMan Growth Fund, First Fellow Partners and Tesi (Finnish Industry Investment Ltd) joined during the previous financing round in 2019. Dr. Tuomo Suntola, the recipient of the 2018 Millennium Technology Prize for his invention of ALD technology, was also an owner.
”It is truly wonderful to witness how Picosun, and with it a significant Finnish invention, will henceforth be part of a global leader in the semiconductor industry. The transaction also demonstrates the strength of Finnish tech know-how as well as the country’s attractiveness for investment. Although Tesi exists the investment, we are excited to see Picosun’s journey enter a new growth phase,” comments Miikka Salminen, Investment Manager at Tesi.
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 2.4 billion euros. www.tesi.fi | @TesiFII