Taiwanese electronic test and measurement equipment and systems supplier Chroma Ate Inc. has agreed to acquire 20.5 percent of Israeli metrology and inspection equipment manufacturer Camtek Ltd. for $74.3 million in cash.
Chroma Ate will buy 6.1 million Camtek shares from Camtek’s controlling shareholder, Israeli bare printed circuit board manufacturing company Priortech Ltd., for $58.1 million, and another 1.7 million new shares to be issued by Camtek for $16.2 million.
The cash consideration is based on a price of $9.5 per Camtek share, reflecting a 29 percent premium on Camtek’s closing price as of February 8. Following the wrap up of the deal, Priortech will hold 24 percent of Camtek.
In addition, Camtek will also license its triangulation technology, a metrology solution, to Chroma for non-semiconductor applications. Chroma and Camtek further agreed to cooperate in potential projects for the semiconductor market.