Monitor for regulatory approvals and closing conditions through Q2 2027. The high multiple (18x+) suggests MKS extracted strong value for a non-core asset, which could signal further portfolio optimization. Watch for use of proceeds — debt paydown or capital return.
Price Chart
Executive Summary
MKS Inc. agreed to sell its Ophir Optics business to TTM Technologies for $650 million in cash, representing over 18x projected FY 2026 Adjusted EBITDA. The deal excludes the Ophir Instruments laser characterization business and is expected to close in Q2 2027. The sale strengthens MKS's balance sheet and monetizes a non-core asset at a high multiple.
Key Financial Metrics
Key Facts
- All-cash sale of Ophir Optics to TTM Technologies for $650 million
- Purchase price represents over 18x projected FY 2026 Adjusted EBITDA
- Transaction expected to close in Q2 2027
- Ophir Instruments laser characterization business is retained and not part of the sale
- J.P. Morgan Securities LLC is exclusive financial advisor to MKS
Financial Impact
$650 million all-cash consideration, over 18x projected FY 2026 Adjusted EBITDA
Risk Factors
- Transaction subject to regulatory approvals and customary closing conditions — risk of delay or failure to close
- Projected FY 2026 Adjusted EBITDA is a non-GAAP forward-looking metric and may not materialize as estimated
- Ophir Optics served defense/security markets — any disruption during transition could affect customer relationships
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3383412 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | Institutional Cluster | $216.10 | awaiting T+5 | — | $212.16 (−1.82%) |
Oct 19, 2026 8d ago | 8-K | $215.41 $202.28 | ▼ −6.10% | ▼ −5.95% | $212.16 (−1.51%) |
Oct 19, 2026 8d ago | Press Release | $215.41 $204.80 | ▼ −4.93% | ▼ −4.78% | $212.16 (−1.51%) |
Sep 1, 2026 8w ago | 144 | $246.44 $268.05 | ▲ +8.77% | ▲ +8.69% | $212.16 (−13.91%) |
Jul 13, 2026 15w ago | Press Release | $352.03 $324.69 | ▼ −7.77% | ▼ −6.98% | $212.16 (−39.73%) |
Jun 8, 2026 20w ago | Insider Cluster | $312.09 $375.32 | ▲ +20.26% | ▲ +18.15% | $212.16 (−32.02%) |
Jun 2, 2026 21w ago | Insider Cluster | $329.66 $320.96 | ▼ −2.64% | ▲ +0.33% | $212.16 (−35.64%) |
Jun 2, 2026 21w ago | Insider Cluster | $329.66 $320.96 | ▼ −2.64% | ▲ +0.33% | $212.16 (−35.64%) |
May 28, 2026 21w ago | Insider Cluster | $323.41 $328.44 | ▲ +1.56% | ▲ +1.24% | $212.16 (−34.40%) |
May 28, 2026 21w ago | Insider Cluster | $323.41 $328.44 | ▲ +1.56% | ▲ +1.24% | $212.16 (−34.40%) |
US Market Status
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