U.S. process control and yield management solutions provider KLA-Tencor plans to buy 17.8 acres of land in the Ann Arbor Technology Park for $26.7 million from The University of Michigan, a public research university.
KLA is interested in developing a research and development center near the university to strengthen its collaborative research with The University of Michigan.
KLA-Tencor’s acquisition of the property is expected to add between 300 to 500 new jobs to the area.
In October, KLA-Tencor revealed that it was setting a research and development facility in Ann Arbor, which was predicted to result in an investment of $70 million.