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MKS Instruments Announces Closing of Atotech Acquisition
August 17, 2022 | Globe NewswireEstimated reading time: 1 minute
MKS Instruments, Inc., a global provider of technologies that enable advanced processes and improve productivity, today announced the completion of the previously announced acquisition of Atotech Limited for approximately $4.4 billion in cash and MKS common stock. Atotech is a global leader in process chemicals, equipment, software and services for printed circuit boards, semiconductor IC packaging, and surface finishing.
“The acquisition of Atotech positions MKS to accelerate roadmaps for future generations of advanced electronics devices,” said John T.C. Lee, President and CEO of MKS. “By combining leading capabilities in lasers, optics, motion and now process chemistry, MKS is set to be a leader in the next frontier for miniaturization and complexity: Optimizing the InterconnectSM, a significant enabling point of next-generation advanced electronics. Atotech’s leadership in functional and decorative surface finishing will also extend MKS’ product offering for industrial applications and grow our market reach. I could not be more excited to welcome the Atotech team to the MKS family.”
The acquisition was effected by means of a scheme of arrangement under the laws of the Bailiwick of Jersey (the “Scheme”). As previously announced, on August 15, 2022, the Royal Court of Jersey issued a court order (the “Court Order”) sanctioning the Scheme. Completion of the acquisition occurred earlier today upon the Court Order being delivered to the registrar of companies for the Bailiwick of Jersey.
Accretion Expectations
The combination of MKS and Atotech creates a company with pro forma revenue of $4.5 billion for the twelve months ended June 30, 2022. As a result of higher interest rates on debt financing compared to the time the transaction was originally announced in July 2021, as well as the impact of the current macroeconomic and inflationary environment on our business, MKS currently anticipates the acquisition will be accretive to Non-GAAP diluted net earnings per share for the full fiscal year 2024.
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