© mikael damkier dreamstime.com Electronics Production | February 21, 2019
KLA completes acquisition of Orbotech
KLA-Tencor Corporation says that the company has completed its acquisition of Orbotech Ltd.
"We are very pleased to have completed the acquisition of Orbotech," says Rick Wallace, president and CEO of KLA, press release. "This new combination extends KLA's market reach within the electronics value chain, opens new high-growth markets for the company, and brings complementary technologies, products and services to our portfolio." Under the terms of the agreement, Orbotech shareholders received USD 38.86 per share in cash, and 0.25 of a share of KLA common stock in exchange for each ordinary share of Orbotech, for a total consideration of USD 65.93 per share, based on the USD 108.26 closing sale price of KLA common stock. "We welcome the talent and experience that Orbotech employees bring to the KLA team. Working together, we will continue to grow and invest in our future as we drive innovation and results, and meet the changing needs of our customers and the marketplace," Wallace continues.