Orbotech to buy U.K.-based SPTS for $370M

|About: Orbotech Ltd. (ORBK)|By:, SA News Editor

Orbotech (ORBK) agrees to acquire U.K.-based microelectronics manufacturer SPTS Technologies from European P-E firm Bridgepoint and others for $370M.

ORBK says the deal will accelerate its growth and diversification strategy, and will expand its presence in Europe and North America and provide SPTS with a greater reach in the Pacific region, particularly in China.

ORBK expects the acquisition to be accretive to adjusted earnings immediately after closing.