Lee about the Atotech acquisition: The combined company will be better positioned to benefit from their respective capabilities to optimize the interplay between chemical processes and via drilling to help solve customer challenges on next-gen architectures. The scheduling of such meeting will be communicated to all Photon Control securityholders in due course. Photon. News and Editorial Regarding This Company To access this and other valuable technical resources, please sign in or register for a new online account. 2023 MKS Instruments. Gross margins were positively influenced by strong sales but were partially offset by a weakening US dollar relative to the Canadian dollar and additional investments made to increase our manufacturing capabilities as we manage our on-time delivery strategies and sales readiness. (2021-05-10 | NDAQ:MKSI) MKS Instruments Announces Agreement to Acquire Photon Control. Founded: 1988 Expands Technology Solutions for Key Customers in Semiconductor Market Acquiring a Leader in Optical Sensors for Temperature Control used in Semiconductor Wafer Fabrication Enhances the MKS Surround the Chamber Portfolio ANDOVER, Mass., May 10, 2021 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ: MKSI) ("MKS"), a global provider of technologies that enable advanced processes and . Search more than 4000 manufacturers and suppliers of photonics products and services worldwide: Technologies, applications and markets Optical Biomedical Imaging offers a broad survey of We use cookies to improve user experience and analyze our website traffic as stated in our, semiconductor wafer fabrication equipment, Exail to Provide Navigation Tech to US Coast Guard: Week in Brief: 06/02/23, U.S. DOE Announces Funding for Eight Fusion Science Companies, NIH Grant Funds Wearable Brain-Imaging Tech, Investment Firm Carlyle Group Acquires Czech Optics Company Meopta. MKS Instruments Announces Agreement to Acquire Photon Control Richmond, BC, May 12, 2021--(T-Net)--Photon Control Inc.(TSX: PHO), a leading manufacturer of fiber optic measurement solutions, announced today that it has entered into an arrangement agreement with MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of instruments, systems, subsystems and process control solutions based in Andover, Massachusetts, pursuant to which MKS will acquire Photon Control for $3.60 per common share in an all-cash transaction valued at approximately $387 million. Photon Control's Board of Directors established a Special Committee of independent directors to oversee the transaction discussions and the Arrangement. SPECT scans involve two steps: receiving a radioactive injection (called a tracer) and using a SPECT machine to scan a specific area of your body.. Adjusted EBITDA for Q121 was $5.0 million or 28% of revenue (Q120: $7.0m or 41%, Q420: $3.7m or 25%). We anticipate the acquisition will further advance the MKS strategy to enhance our Surround the Chamber offering by adding optical sensors for temperature control for critical etch and deposition applications in semiconductor wafer fabrication. Future downloads will be available automatically. MKS is not providing a quantitative reconciliation of forward-looking Non-GAAP net earnings to GAAP net earnings because it is unable to estimate with reasonable certainty the ultimate timing or amount of certain significant items without unreasonable efforts. MKS completes its acquisition of Photon Control - Evertiq In addition, Photon Control is a strong strategic fit with similar culture and vision to MKS. (See MKS Instruments stock analysis on TipRanks). Such forward-looking statements concern the business of the Company and the timing for delisting of the Shares from the TSX. * Expands Technology Solutions for Key Customers in Semiconductor Market, * Acquiring a Leader in Optical Sensors for Temperature Control used in Semiconductor Wafer Fabrication, * Enhances the MKS Surround the ChamberPortfolio. May 11, 2021 6:38AM EDT M KS Instruments ( MKSI) agreed to acquire Photon Control ( PHO) for approximately C$387 million. Richmond-based Tech Company Photon Control Agrees to be Acquired by MKS Attractive cross selling opportunity: Atotech can leverage MKS leadership in Flex, and MKS can leverage Atotechs leadership in HDI to position the combined company to accelerate customer roadmaps. All directors and executive officers of Photon Control, holding approximately 1.0% of the issued and outstanding shares of Photon Control as of the date hereof, have entered into voting and support agreements in favour of MKS pursuant to which, among other things, they have agreed to vote their Photon Control securities in favour of the Transaction. E-mail: www.mksinst.com/contact/contactslocations?country=US, daily coverage of the optics & photonics industry and the markets that it serves, www.mksinst.com/contact/contactslocations?country=US. | Copyright | Terms of Use | Contact T-Net | Site Map. Wij, Yahoo, maken deel uit van de Yahoo-merkenfamilie. MKS and Atotech have complementary customer solutions in key advanced electronics markets, with MKS expertise in via drilling and Atotech in electroplating and chemistry. 2169. Photon Control Inc.'s high-quality products provide industry-leading accuracy, reliability and quality in the most extreme conditions and are backed by a team of experts providing a variety of on-site and remote services including custom design, installation, training and support. Operating expenses for Q121 increased to $5.4 million (Q120: $4.1m, Q420 $5.0m). The announcement does not impact pricing, terms, or conditions on outstanding quotes. Photon Control Inc. designs, manufactures and distributes a wide range of optical sensors and systems to measure temperature and position. With functional and decorative surface finishing, MKS will extend its product offering for industrial applications and grow its market reach. Following the announcement, shares of MKSI fell by as much as 4.8%, while shares of PHO spiked 16.7% on May 10. width: 190px; white-space: -moz-pre-wrap; /* Mozilla */ Greenhill & Co. is acting as financial advisor and Stikeman Elliott is acting as legal advisor to MKS. "We believe the Photon Control acquisition will help us deliver on one of our long-term strategic objectives, which is to broaden our portfolio of key technologies to better serve our customers," said MKS President and CEO John T.C. ANDOVER, Mass., May 10, 2021 (GLOBE NEWSWIRE) MKS Instruments, Inc. (NASDAQ: MKSI), a global provider of technologies that enable advanced processes and improve productivity, today announced that it has entered into a definitive agreement pursuant to which MKS will acquire Photon Control Inc. (TSX: PHO ) for CAD$3.60 per share, in an all-cash . This via formation workflow is unique to the industry and MKS believes this workflow can enable market share gain within an ~$4.5B SAM. After careful deliberation, the Special Committee and the Company's Board of Directors have unanimously concluded that the Transaction is fair to the Company's securityholders from a financial point of view and is in the best interests of the Company and its employees.". Any device that functions as an electrical-to-optical or optical-to-electrical transducer. MKS Instruments Acquires Photon For C$387M, Boost Technology Solutions Overview of Transaction with MKS. These products improve performance and enable innovation for our customers and are used in the semiconductor and other high technology industries. MKS Instruments : Announces Agreement to Acquire Photon Control (Form 8 This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. As soon as practicable after the closing of the acquisition, Atotech shareholders will receive $16.20 in cash and 0.0552 of a share of MKS common stock for each Atotech ordinary share. Name PHOTON TECHNOLOGIES. The transaction has been approved by the MKS andPhoton Controlboards of directors and is subject to customary closing conditions, including approval byPhotonControlssecurityholdersand court approval inthe Province of British Columbia, Canada, and is expected to close in thethirdquarter of 2021. Please proceed as usual. These smaller geometries and greater density have been vital to enabling more functionality in our phones, such as more cameras, microphones, facial recognition, LiDAR front camera, 5G antennas, and more. This in turn, should shorten development time for optimum chemical recipes, allowing faster time to market. All rights reserved. We initially estimate the deal will be 3% accretive to GAAP earnings.. GMF also provides chemical processes for 5G applications and for renewable energies, such as solar and wind turbines. 1 2, MKS | Photon Control --MKS Instruments, Inc., a global provider of technologies that enable advanced processes and improve productivity, today announced that it has entered into a definitive agreement pursuant to . padding-left: 0px; Photon Control Completes Acquisition by MKS Instruments - GlobeNewswire The completion of the Arrangement is not subject to any financing condition. Echelon Capital Markets, financial advisor to Photon Control, has provided a fairness opinion to the board of directors of Photon Control that, subject to the assumptions, limitations and qualifications set out in such fairness opinion, the Consideration to be received by Photon Control shareholders pursuant to the Transaction is fair from a financial point of view to Photon Control shareholders. We expect that our combined expertise and know-how across lasers, materials processing and the complex applications they support will provide opportunities for collaboration, innovation and continual ground-breaking solutions for our customers. MKS' primary served markets include semiconductor, industrial technologies, life and health sciences, and research and defense. This press release also includes a reference to the Adjusted EBITDA of Photon Control Inc., which is a Non-GAAP measure in Canada. All rights reserved. In addition, Non-GAAP net earnings is not based on any comprehensive set of accounting rules or principles. Atotech provides advanced technical solutions for the worlds surface-finishing industries through a combination of innovative chemistry and world-class equipment. Photon Control shareholders to receive $3.60 per share in cash, representing an aggregate transaction value of approximately $387 million The purchase price represents a premium of 26% to the 30-day volume weighted price of $2.87 per Photon Control common share Photon Control's . Login to view your complete order history. Additional information can be found at www.mksinst.com. Als u uw keuzes wilt aanpassen, klik dan op 'Privacyinstellingen beheren'. Together, MKS and Atotech will be well positioned to drive faster, better solutions for customers in advanced electronics. Photon Controlis headquartered inRichmond, British Columbia, Canada and hadrevenues ofCAD$65millionand Adjusted EBITDA ofCAD$23 millionin 2020. Net income for Q121 was $3.0 million, or $0.03 per share (Q120: $6.6m or $0.06 per share, Q420: $1.2m or $0.02 per share). 100 Employees In BC (100 Total) word-wrap: break-word; /* IE */ Provide an order number and postal code to check the status of an order or download an invoice for an order that has shipped. The transaction is expected to be accretive to MKS' Non-GAAP net earnings within the first 12 months post-closing. Personnel Changes At This Company. The Company's performance was aided by strong market demand as the global semiconductor market reacts to chip shortages and increased pressure on technological advancements in artificial intelligence, 5G, and vehicle electrification, active safety, and autonomous driving. The finance and legal teams will give guidance as needed. As a result of the Arrangement, Photon Control has become a wholly-owned subsidiary of B.C. Copies of Photon Control Inc.'s consolidated financial statements and related notes for the year ended December 31, 2020 and of the accompanying MD&A can be found on SEDAR under Photon Control Inc.'s profile at www.sedar.com. Wanneer u onze sites en apps gebruikt, gebruiken we, gebruikers authenticeren, veiligheidsmaatregelen toepassen en spam en misbruik voorkomen, en, gepersonaliseerde advertenties en content weergeven op basis van interesseprofielen, de effectiviteit meten van gepersonaliseerde advertenties en content, en, onze producten en services ontwikkelen en verbeteren. Please Send me an Email Alert (With All of My Company Updates) On The Following Dates: .wrapme3 { The tracer dose is very small, and you may feel a cold sensation as it enters your body. MKS Instruments Acquires Photon For C$387M, Boost Technology - Nasdaq Overview of Transaction with MKS Key Transaction Highlights Photon Control shareholders to receive $3.60 per share in cash, representing an aggregate transaction value of approximately $387. Stikeman Elliott LLP is acting as legal counsel to MKS. Atotech is a global leader in process chemicals, equipment, software, and services for advanced electroplating and surface finishing solutions, supplying diverse end markets including printed circuit boards, semiconductor IC packaging and industrial applications. In addition, there is no overlap with Atotechs General Metal Finishing (GMF) business, which in turn will bring new opportunities to MKS in industrial markets. By combining leading capabilities in lasers, optics, motion and process chemistry, the combined company will be positioned to Optimize the Interconnect, Atotech has two core businesses: Electronics (EL) and General Metal Finishing (GMF). The combined company will be better positioned to benefit from their respective capabilities to optimize the interplay between chemical processes and via drilling to help solve customer challenges on next-gen architectures. Cash and cash equivalents at March 31, 2021 were $44.2 million (December 31, 2020: $48.4m). We believe these trends will only continue over time, and we are excited to harness our combined capabilities to accelerate new designs and roadmaps for our customers. SPECT scan - Mayo Clinic Market| Brands Authorizes $2B Stock Buyback; Will Pay Quarterly Dividend of $0.50. MKS Instruments Acquires Photon For C$387M, Boost Technology - TipRanks MKS acquired Photon Control for CAD 3.60 per share, in an all-cash transaction valued at approximately CAD 387 million (EUR 263.85 million). Photon Control Agrees to be Acquired by MKS Instruments and Reports Non-GAAP net earnings should be viewed in addition to, and not as a substitute for, GAAP net earnings, and may be different from Non-GAAP net earnings used by other companies. NIGEL HUNTON,PRESIDENT, CEO AND DIRECTOR. In addition, we anticipate over time that the combined technical expertise and customer relationships will provide opportunities for increased collaboration to drive faster, better solutions for our customers. Receiving a radioactive substance. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the future financial performance, business prospects and growth of MKS, and the expected time of closing. These statements are only predictions based on current assumptions and expectations. Lee. MKS also provides services relating to the maintenance and repair of its products, installation services and training. An application has also been made for the Company to cease to be a reporting issuer in the applicable jurisdictions. Stockhouse.com uses cookies on this site. Links. MKS Instruments ( MKSI -1.6%) to acquire Photon Control for CAD$3.60 per share, in an all-cash transaction valued at ~C$387M, with an estimated enterprise value of C$343M. "We believe the Photon Control acquisition will help us deliver on one of our long-term strategic objectives, which is to broaden our portfolio of key technologies to better serve our customers," said MKS President and CEO John T.C. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward looking statements, including, without limitation: risks related to the completion of the Arrangement; uncertainties relating to the market for the Companys products and maintaining a stable level of orders; fluctuations in revenue as a result of volatility in the markets and product mix; risks relating to the Companys present reliance on its major customers for the majority of its sales; risks relating to the Companys reliance on the financial health of and timing of cycles in the semiconductor industry; risks relating to the development of competing technologies and the possibility of increased competition; the effect of slow growth in the United States, the Companys principal market, as well as other economies and other economic trends and conditions in the markets that the Company and its customers serve; risks associated with the spread of the COVID-19 virus; risks associated with the adverse impact of climate change; risks associated with technical difficulties or delays in product introductions, improvements, implementation; uncertainties in product pricing or other initiatives of the Company and its competitors; uncertainties in factors that may result in a reduction in capital expenditures and/or delayed buying decisions affecting demand for the Companys products; risks relating to currency fluctuations, particularly between the Canadian and United States dollars; risks in pursuing additional development projects to support existing customers or pursue other business opportunities; and such other risks as are identified in the Companys Annual Information Form and other disclosure documents filed on SEDAR at www.sedar.com.
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