TOKYO, Nov. 2 (Kyodo) — Semiconductor equipment maker Tokyo Electron Ltd. said Friday it will acquire Irish firm Magnetic Solutions Ltd. to boost development of a next-generation memory device.

Under the deal worth 17.6 million euros (about 1.8 billion yen), Tokyo Electron said it hopes to acquire the technology of the company, which develops and sells magnetic annealing systems used in manufacturing hard disk drives.