Dan's Biz Bookshelf: 'Getting Naked: A Business Fable'
The Chemical Connection: Common Misconceptions in Wet Processing
It’s Only Common Sense: Selling to Engineers
MKS Instruments Enters Agreement to Acquire Photon Control
May 12, 2021 | MKS Instruments, Inc.Estimated reading time: 1 minute
MKS Instruments, Inc., a global provider of technologies that enable advanced processes and improve productivity, announced that it has entered into a definitive agreement pursuant to which MKS will acquire Photon Control Inc. for CAD$3.60 per share, in an all-cash transaction valued at approximately CAD$387 million, with an estimated enterprise value of CAD$343 million.
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 securityholders and court approval in the Province of British Columbia, Canada, and is expected to close in the third quarter of 2021.
Greenhill & Co. is acting as financial advisor and Stikeman Elliott is acting as legal advisor to MKS.
Share on:
Suggested Items
BAE Systems Selected to Enhance Ground System for Space Force Missile Warning Satellites
04/29/2025 | BAE SystemsBAE Systems has been selected by U.S. Space Force Space Systems Command to provide a new satellite command and control (C2) system for its Future Operationally Resilient Ground Evolution (FORGE) program.
Mitsubishi Electric, Nanofiber Quantum Technologies Launch Trial to Develop Quantum Computer Interconnection Technology
04/25/2025 | BUSINESS WIREMitsubishi Electric Corporation and Nanofiber Quantum Technologies Inc. (NanoQT) announced today the immediate launch of a joint demonstration aimed at establishing interconnection technologies for neutral-atom quantum computers.
Cadence Enables Next-Gen AI and HPC Systems with Industry’s Fastest HBM4 12.8Gbps IP Memory System Solution
04/21/2025 | Cadence Design SystemsCadence announced the industry’s fastest HBM4 12.8Gbps memory IP solution, which meets the increasingly higher memory bandwidth needs of SoCs targeted for the next generation of AI training and HPC hardware systems.
Avnet Technology Links STMicroelectronics’ STM32 Microcontrollers
04/11/2025 | AvnetDesign engineers who struggle with chip down design will now be able to quickly prototype and deploy their projects based on STM32 series of microcontrollers, specifically the STM32F7 and STM32N6 series.
Teledyne FLIR Defense Awarded $74.2M U.S. Army Contract
04/10/2025 | BUSINESS WIRETeledyne FLIR Defense, part of Teledyne Technologies Incorporated,, announced it has been awarded a four year, $74.2 million contract by the U.S. Army for continued development of the next-generation mounted reconnaissance capability for the M1135 Stryker’s Nuclear, Biological and Chemical Reconnaissance Vehicle (NBCRV) Sensor Suite Upgrade Program.