SPTS bought by Orbotech
SPTS of Newport, the packaging and MEMS specialist, is to be bought by the US equipment manufacturer Orbotech for $370 million in cash, $300 million of which will be raised through debt.
In 2014, SPTS is expected to generate revenues of approximately $180 million, gross margin of approximately 48% of its revenues, and EBITDA margin of approximately 25% of its revenues.
“Orbotech identified Advanced Packaging as a strategic and natural extension of its business into an adjacent high growth market, where SPTS is a recognised technology leader,” says Orbotech CEO Asher Levy.
Post-completion, SPTS Technologies will operate as a standalone division of Orbotech and continue to base the Single Wafer division out of Newport, with the Thermal Products division in San Jose and HF Etch Products division in Allentown, US.