MKS Instruments to Acquire Process Chemical Technology Company

MKS Instruments has entered into a definitive agreement to acquire Atotech Ltd., a process chemicals technology company and a provider of advanced electroplating solutions. MKS will acquire the company for $16.20 in cash and 0.0552 shares of MKS common stock for each Atotech common share. The equity value of the transaction is $5.1 billion, and the enterprise value of the transaction is approximately $6.5 billion.

MKS said the transaction will result in annual revenue (pro forma) of $3.8 billion. The deal is poised to accelerate MKS' development of interconnect solutions to address increasing miniaturization demands for enabling the integration of chips into devices.

“By combining leading capabilities in lasers, optics, motion, and process chemistry, the combined company will optimize the PCB interconnect, a significant enabling point of next-generation advanced electronics that represents the next frontier for miniaturization and complexity," said MKS President and CEO John T.C. Lee. "We anticipate that the addition of Atotech will position MKS to enable roadmaps for future generations of advanced electronics devices."

Geoff Wild, CEO of Atotech, said, "The combination of Atotech’s expertise in electroplating and chemistry and MKS’ strengths in lasers, laser systems, optics, and motion will enable innovative and ground-breaking solutions for customers in the areas of materials processing and complex applications."

The transaction is expected to close by the fourth quarter of 2021. It is subject to Atotech shareholder approval, approval of the Royal Court of Jersey, regulatory approvals, and other customary closing conditions.