Orbotech to Buy Photon Dynamics
Orbotech Ltd. has signed an agreement to acquire Photon Dynamics Inc. of San Jose, Calif., USA, which uses imaging technology to develop flat panel display test and repair systems, among other applications. The transaction is valued at approximately $290 million. The former company, a developer and marketer of electronics solutions, will purchase all of the issued and outstanding shares of the latter company’s common stock for $15.60 each.
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