Orbotech is sold to the US KLA-Tencor for $ 3.4 billion


by Ifi Reporter Category:Hitech Mar 20, 2018

Orbotech of the city of Yavne is sold to the US company KLA-Tencor for $ 3.4 billion. The Acquiring Company will pay $ 69.02 for each Orbotech share, reflecting a premium of 15.2% on the current price and 28% of Orbotech's average price in the last 30 trading days. Orbotech is currently traded on Nasdaq at a value of $ 2.9 billion, a record of more than 17 years, after its stock jumped 87.3% in the past year, completing a jump of more than 1,700% since the slump during the 2008 crisis.
The deal is subject to the approval of the shareholders of Orbotech, and on the assumption that it will be approved, it will be completed during the fourth quarter of 2018. According to the Acquiring Company's announcement, the acquisition will expand the market to which it is addressing $ 2.5 billion. After neutralizing the cash in the Orbotech fund, the company's value in the transaction is $ 3.1 billion.
Orbotech develops technologies for the use of advanced electronic products. The company faces three main markets: the FPD - flat panel displays, the PCB - printed circuits, and the SDD - the semiconductor market.

"The acquisition is another proof of Orbotech's positioning in the markets in which it operates and the strength of its business model," said Levi Levy, CEO of Orbotech. Will continue to operate as a single unit under the Orbotech brand, and the company headquarters will continue to operate from Yavneh. 



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