Novellus Systems, Inc. (Novellus), together with its subsidiaries, develops, manufactures, sells and support equipment used in the fabrication of integrated circuits, commonly called chips or semiconductors. Customers for this equipment manufacture chips for sale or for incorporation in their own products, or provide chip-manufacturing services to third parties. Novellus also develops, manufactures, sells and supports grinding, lapping and polishing equipment for a range of industrial applications. The Company operates in two segments: the Semiconductor Group and the Industrial Applications Group (IAG). Its Semiconductor Group develops, manufactures, sells, and supports equipment used in the fabrication of integrated circuits, commonly called chips or semiconductors. The Industrial Applications Group is a supplier of lapping, grinding, polishing, and deburring equipment for fine-surface optimization. In June 2012, Lam Research Corporation completed its merger with Novellus.