ANDOVER, Mass., May 10, 2021 (GLOBE NEWSWIRE) — MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of technologies that enable advanced processes and improve productivity, today announced that it has entered into a definitive agreement pursuant to which MKS will acquire Photon
Photon Control is headquartered in Richmond, British Columbia, Canada and had revenues of CAD$65 million and Adjusted EBITDA of CAD$23 million in 2020. The transaction is expected to be accretive to MKS’ Non-GAAP net earnings within the first 12 months post-closing.
“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,” said MKS President and CEO John T.C. Lee. “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.”
The transaction has been approved by the MKS and Photon Control boards of directors and is subject to customary closing conditions, including approval by Photon Control’s
Greenhill & Co. is acting as financial advisor and Stikeman Elliott
About MKS Instruments
MKS Instruments, Inc. is a global provider of instruments, systems, subsystems and process control solutions that measure, monitor, deliver, analyze, power and control critical parameters of advanced manufacturing processes to improve process performance and productivity for our customers. Our products are derived from our core competencies in pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, electronic control technology, reactive gas generation and delivery, power generation and delivery, vacuum technology, lasers, photonics, optics, precision motion control, vibration control and laser-based manufacturing systems solutions. We also provide services relating to the maintenance and repair of our products, installation services and training. Our primary served markets include semiconductor, industrial technologies, life and health sciences, and research and defense. Additional information can be found at www.mksinst.com.
