TTM Technologies to Acquire MKS's Ophir Optics Business for $650M

Dow Jones10-19 21:04

Kelly Cloonan

TTM Technologies has agreed to acquire an infrared thermal imaging and laser optics solutions business from MKS for about $650 million in cash.

The company said Monday the deal for MKS's Ophir Optics business aims to bolster its offerings for its defense and industrial customers.

Israel and Romania-based Ophir Optics manufactures high-precision infrared thermal imaging and laser optics solutions for defense, security and industrial applications. It aims to provide an end-to-end solution, from optics to camera integration, with capabilities spanning initial design to final testing.

TTM said it expects to fund the deal, along with its previously announced expansion in Asia, through a combination of cash on hand and expected future cash flow and borrowings under its existing revolving credit facility.

The company expects the deal to be immediately accretive to adjusted earnings per share.

The deal is expected to close in the second quarter of 2027.

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