MKSI - MKS Instruments to acquire Photon Control for C$387M

MKS Instruments ([[MKSI]] -1.6%) to ?acquire?Photon Control ?for?CAD$3.60?per share,?in an all-cash transaction?valued at?~C$387M, with an estimated enterprise value of?C$343M.Photon Control?is headquartered in?Richmond, British Columbia, Canada and had?revenues of?CAD$65M?and Adjusted EBITDA of CAD$23M?in 2020.?The transaction is expected to be accretive to MKS’?Non-GAAP net earnings?within?the first?12?months post-closing.?Transaction is expected to close in Q3 2021.“We believe the?Photon Control?acquisition will help us deliver on one of our long-term strategic objectives, which is to broaden our?portfolio of?key technologies to better serve our?customers. We?anticipate the acquisition will further advance the MKS strategy to enhance our?Surround the Chamber®?offering by adding optical sensors for temperature control for critical etch and deposition applications in semiconductor wafer fabrication. In addition, Photon Control is a strong strategic fit with similar culture and vision to MKS.” said?President and?CEO?John T.C. Lee.

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MKS Instruments to acquire Photon Control for C$387M