Applied Materials will buy Baccini for $330 million in order to expand its solar cell technologies. Baccini is a Treviso, Italy-based private company that was founded in 1967 to provide equipment used in the manufacturing of solar cells. Baccini's technology is used to produce ultra thin cells that are less than 120 micrometers thick — significantly thinner than those typically used in the industry, according to Applied Materials. This allows for cost reductions regarding silicon material, which currently accounts for more than 60 percent of solar cell manufacturing, according to the company. The deal is expected to close in early 2008.