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Subsequent Events
9 Months Ended
Sep. 30, 2015
Subsequent Events  
Subsequent Events

 

17.Subsequent Events

 

Subsequent to September 30, 2015, the Company approved and implemented a repatriation of $235.3 million of foreign earnings to the United States due to adverse interest rate conditions in Europe that were unfavorably impacting cash balances.  Please see Note 9 of the condensed consolidated financial statements for additional information on the cash repatriation.

 

On October 27, 2015, the Company entered into a new revolving credit agreement, referred to as the 2015 Credit Agreement, and terminated the Amended Credit Agreement.  The 2015 Credit Agreement provides a maximum commitment on the Company’s revolving credit line of $500.0 million and a maturity date of October 2020.  Please see Note 7 of the condensed consolidated financial statements for additional information on the 2015 Credit Agreement.

 

On October 29, 2015, the Company acquired the shares of Jordan Valley Semiconductors, LTD. The acquired company provides X-ray metrology and defect-detection equipment for semiconductor process control and is expected to add approximately $25 to $30 million to the Company’s 2016 revenues.