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Stock Market & Financial Investment News

News Breaks
July 7, 2014
05:29 EDTORBKOrbotech to acquire SPTS Technologies for $370M
Obotech announced the signing of a definitive share purchase agreement to acquire SPTS Technologies Group Limited, a U.K.-based leading manufacturer of etch, deposition and thermal processing equipment for the microelectronics industry, from European private equity firm Bridgepoint and others. Under the terms of the agreement, Orbotech will acquire SPTS for a total consideration, including repayment or assumption of debt, of approximately $370M in cash. The acquisition and related costs are expected to be financed through a combination of cash on hand and approximately $300M in debt financing under a new term loan facility. The acquisition and financing are expected to close during Q3. The acquisition of SPTS is expected to be accretive to Orbotech’s non-GAAP earnings immediately after closing and GAAP accretive in 2015. After closing, SPTS’ financial statements will be converted to U.S. GAAP to be consistent with Orbotech’s financial statements.
News For ORBK From The Last 14 Days
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December 9, 2014
06:04 EDTORBKOrbotech LT Solar receives follow on orders totaling $15M
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