Taiwanese measurement and test systems company Chroma ATE Inc. has announced that it has completed acquisition of a 20% stake in Israeli metrology and inspection equipment manufacturer Camtek Ltd. (Nasdaq: CAMT; TASE:CAMT) for $74.3 million. Chroma has paid $58.1 million for 6.1 million Camtek shares from controlling shareholder Priortech Ltd. and an additional $16.2 million for 1.7 million new shares, which are being issued. Chroma is paying $9.5 million per share, 12.4% above the current market price. Priortech's stake in Camtek will fall from 41.9% to 24%.
Based in Migdal Ha'Emek, Camtek manufactures metrology and inspection equipment and provides software solutions serving the Advanced Packaging, Memory, CMOS Image Sensors, MEMS, RF and other segments in the mid end of the semiconductor industry. The company has a market cap of $309 million.
Camtek chairman and CEO Rafi Amit said, "We are delighted with the completion of the Chroma deal, which has major importance for Camtek. Chroma is a leading player in Taiwan and Asia and this deal will allows us to strengthen our presence in Asia."
Published by Globes, Israel business news - en.globes.co.il - on June 19, 2019
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