Nordson to acquire CyberOptics – expanding its platform
Nordson Corporation has signed a definitive agreement for the acquisition of CyberOptics Corporation. The acquisition will expand the company's test and inspection platform and enhance Nordson’s product offering.
The all-cash transaction is valued at USD 54.00 a share, or approximately USD 380 million. The transaction is expected to close in Nordson’s first quarter of fiscal 2023, pending regulatory and shareholder approvals.
“We are looking forward to welcoming CyberOptics’ nearly 200 employees to Nordson. The company’s leading-edge 3D optical sensing technology and market leading wireless measurement sensors will expand Nordson’s current test and inspection capabilities, allowing us to offer new differentiated solutions to our semiconductor and electronics customers, ” says Sundaram Nagarajan, president and CEO in a press release.
Sundaram Nagarajan, continues to say that Nordson will invest in CyberOptics’ greatest opportunities for profitable growth.
CyberOptics has its headquarters in Minneapolis, Minnesota, and generates approximately USD 100 million in annual revenue. The addition of CyberOptics expertise and products will expand Nordson’s growth opportunities into new areas of the semiconductor wafer fabrication and packaging process.
“Our global Test & Inspection division within the Advanced Technology Solutions segment predominantly serves the electronics market in diversified end customer applications and has been delivering consistent profitable growth,” said Joseph Kelley, executive vice president and CEO, in the press release. “The differentiated technologies of CyberOptics combined with Nordson’s global sales, applications and service infrastructure will enable accelerated growth rates and the realization of USD 6 million in net cost synergies.”