TTM Technologies, Inc. (TTMI) announced a definitive agreement to acquire the Ophir® Optics business from MKS Inc. in an all-cash transaction valued at approximately $650 million. The acquisition adds high-precision infrared thermal imaging and laser optics capabilities, primarily serving the defense, security, and industrial sectors.

Key Details

  • Acquisition Price: Approximately $650 million in an all-cash transaction, subject to customary closing adjustments.
  • Acquired Business: Ophir Optics, a manufacturer of high-precision infrared and laser optics solutions based in Israel and Romania.
  • Expected Closing: The transaction is expected to close in the second quarter of 2027, pending regulatory approvals.
  • Financial Impact: The acquisition is expected to be immediately accretive to TTM's Adjusted EBITDA Margin and Non-GAAP Diluted EPS. The purchase price multiple is estimated at 10.3x Ophir Optics' expected FY 2027 Adjusted EBITDA.
  • Exclusions: The deal does not include the Ophir Instruments laser characterization business of MKS or the sale of the Ophir brand.