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Newport Corp. Announces $607M Net Sales in 2016, Acquisition by MKS for $980M

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IRVINE, Calif., Feb. 24, 2016 — Newport Corp. has announced an agreement with MKS Instruments Inc. in which MKS will acquire Newport for $23 per share in cash, for a total transaction value of about $980 million. The combined company is expected to have approximately $1.4 billion in pro forma annual revenue, based on the two companies’ 2015 historical results. The transaction is expected to be accretive to MKS non-GAAP net earnings and free cash flow during the first 12 months post-closing. The combined company expects to realize $35 million in annualized cost synergies within 18 to 36 months, and...Read full article

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