Cleary Gottlieb was global antitrust counsel to KLA Corp. (KLA) in its acquisition of Orbotech Ltd. (Orbotech), in a transaction that closed on February 20, 2019.
The transaction values Orbotech at an equity value of approximately $3.4 billion and an enterprise value of $3.2 billion.
With this acquisition, KLA will significantly diversify its revenue base and add $2.5 billion of addressable market opportunity in the high-growth printed circuit board (PCB), flat panel display (FPD), packaging, and semiconductor manufacturing areas.
KLA is a leading provider of process-control and yield-management solutions and partners with customers around the world to develop state-of-the-art inspection and metrology technologies to serve the semiconductor and other related nanoelectronics industries.
Orbotech is a leading global supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products, including equipment for use in the manufacture of PCBs, FPDs, and semiconductor devices.
For more information, please see KLA’s press releases by clicking here and here.