MKS Inc. to sell Ophir Optics to TTM Technologies for $650 million

MKS Inc. has entered into a definitive agreement to sell its Ophir Optics business to TTM Technologies, Inc. in an all-cash transaction valued at $650 million. The deal is expected to close in the second quarter of 2027, subject to customary closing conditions and regulatory approvals.

Ophir Optics, which is based in Jerusalem, specializes in high-precision infrared thermal imaging and laser optics solutions. These products serve defense, security, and industrial applications within the specialty industrial market. The sale price represents an estimated multiple of over 18x projected FY 2026 Adjusted EBITDA for the business.

The transaction specifically excludes the MKS Ophir Instruments laser characterization business and the sale of the Ophir brand. MKS stated that the laser characterization business will continue to operate separately, ensuring no impact on products, services, or support for its existing customers.