Applied Materials said on Wednesday that it would pay $4.9 billion in cash for Varian Semiconductor Equipment Associates, as it looks to capitalize on mobile and other high-growth technologies.

The company, based in Santa Clara, Calif., is paying $63 a share for Varian, 55 percent above its closing price on Tuesday. The deal has the unanimous support of the boards of both companies.

“Varian is a great fit for our strategy to profitably grow share in our core semiconductor business with best-in-class technology and talent,” Michael R. Splinter, chief executive of Applied Materials, said in a statement.

Varian, which is located in Gloucester, Mass., specializes in ion implantation equipment, used in manufacturing semiconductors. Applied Materials expects the acquisition to provide the company with a better platform for mobile applications. It could also extend its reach in the solar industry.

“The pace of product innovation is accelerating, requiring devices that are more mobile, more connected and more personalized,” said Mr. Splinter. “Combined, Applied and Varian will be better positioned to help our customers solve these complex challenges and deliver long-term value to shareholders.”

Christopher Muse, an analyst at Barclays Capital, said in a research note that an important driver for the deal was “the importance of ion implant and other technologies in developing next generation transistors.”

“We look for M.A. to come into greater focus” in the sector, he wrote, adding that he sees “shares moving higher from here.”

Applied Materials is financing the deal with a combination of existing cash and debt. The company hired Morgan Stanley as its adviser, and Dewey LeBoeuf as legal counsel. Varian hired Credit Suisse and Simon Thacher Bartlett.

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