TTM Technologies agreed to buy MKS Inc.’s Ophir optics business for about $650 million in cash, a deal the company said would close in the second quarter of 2027.
TTM said the purchase price implies roughly 10.3 times Ophir’s expected fiscal 2027 adjusted EBITDA, excluding synergies. The company said the deal is expected to be immediately accretive to adjusted EBITDA margin and non-GAAP diluted EPS.
The acquisition adds high-precision infrared thermal imaging and laser optics used in defense, security and industrial applications, expanding TTM’s portfolio into mission-critical optical solutions for land, air, maritime and unmanned platforms.
TTM said it plans to fund the transaction, along with its previously announced $400 million capital and capacity expansion in Asia, through cash on hand, future cash flow and borrowings under its revolving credit facility.
The deal does not include Ophir Instruments’ laser characterization business or the Ophir brand. As a result of these announcements, the company's shares have moved -7.38% on the market, and are now trading at a price of $93.88. For the full picture, make sure to review TTM TECHNOLOGIES INC's 8-K report.
