TTM Technologies agrees to buy MKS's Ophir Optics business for $650 million
TTMI•TTM Technologies agreed to acquire MKS's Ophir Optics business for approximately $650 million in cash. The deal is expected to close in the second quarter of 2027 and is priced at roughly 10.3 times Ophir Optics' expected fiscal 2027 adjusted EBITDA, excluding synergies.
1. Deal terms
TTM Technologies agreed to acquire MKS's Ophir Optics business for approximately $650 million in cash. The deal excludes Ophir Instruments' laser characterization business and the Ophir brand, and closing is expected in the second quarter of 2027.
2. Funding and outlook
The purchase price represents roughly 10.3 times Ophir Optics' expected fiscal 2027 adjusted EBITDA, excluding synergies. TTM expects the acquisition to immediately increase adjusted EBITDA margin and non-GAAP diluted EPS. It plans to fund the purchase with cash on hand, expected future cash flow and borrowings under its existing revolving credit facility.
