TTM Technologies, Inc. Agrees to Acquire MKS Inc.’s Ophir® Optics Business, Adding Advanced Infrared Optics Capabilities
Key Highlights
- ➤TTM to acquire MKS’s Ophir Optics for approximately $650 million cash
- ➤Transaction valued at roughly 10.3x expected FY 2027 Adjusted EBITDA
- ➤Acquisition expected immediately accretive to TTM Adjusted EBITDA margin and Non-GAAP diluted EPS
- ➤Closing expected in Q2 2027, pending regulatory approvals and customary conditions
- ➤TTM also announced a previously planned $400 million Asia expansion
Expert Statements
Edwin Roks, President and Chief Executive Officer of TTM Technologies
“We are excited to announce our planned acquisition of the Ophir Optics business as another important step toward enhancing our long-term growth strategy by expanding our portfolio with mission-critical optical solutions for land, air, maritime, and unmanned platforms and our industrial portfolio”
Edwin Roks, President and Chief Executive Officer of TTM Technologies
“This acquisition adds another important modality to our product offering with advanced optics to provide systems solutions to our defense and industrial customers, which will help us to benefit from key megatrend tailwinds generated by the growing need for surveillance and the increasing use of laser applications by the industrial base.”
SANTA ANA, Calif., Oct. 19, 2026 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (NASDAQ: TTMI) (“TTM”), a leading global manufacturer of technology products, today announced that it has entered into a definitive agreement to acquire the Ophir Optics business (“Ophir Optics”) from MKS Inc. (NASDAQ: MKSI) for approximately $650 million in an all-cash transaction, subject to customary closing adjustments. The Ophir Optics business is an Israel and Romania-based manufacturer of high-precision infrared thermal imaging and laser optics solutions, serving defense, security and industrial applications.
The transaction along with the Company’s previously announced $400M capital and capacity expansion in Asia, are expected to be funded through a combination of cash on hand and expected future cash flow and borrowings under TTM’s existing revolving credit facility. The transaction multiple is estimated to be roughly 10.3x expected FY 2027 Adjusted EBITDA of Ophir Optics, without synergies, and is expected to be immediately accretive to both TTM’s Adjusted EBITDA Margin and Non-GAAP Diluted EPS. This transaction is expected to close in the second quarter of 2027.
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