PCB |
Orbotech acquire New System
Orbotech have announced that it has signed a definitive agreement to purchase New System Srl, a privately held company that develops and markets inkjet printing solutions for the bare printed circuit board (“PCB") industry.
Orbotech will pay 5.75 M€ to the stockholders of New System for the acquisition of all of the outstanding shares of New System. In addition, New System will have approximately 4 M€ in net liabilities immediately following the acquisition, including approximately 1 M€ in stockholder loans which will be repaid following the closing.
For Orbotech, this acquisition is another step in the implementation of its ongoing strategy of growth and diversification by investing in synergistic areas that leverage its core technologies and expertise. By entering into the growing area of inkjet imaging, Orbotech will be able to take advantage of the increasing opportunities that this technology presents.
The Company believes that this transaction has the potential to generate approximately $20 million in annual revenues in the mid-term, based on New System's current product offering and its short term research and development plan.
The transaction is expected to close today. Following completion, New System will be fully integrated into Orbotech's PCB Division.
