MKS Inc. announced on October 19, 2026, that it has entered into a definitive agreement to sell its Ophir Optics business to TTM Technologies, Inc. The transaction is an all-cash deal valued at $650 million, subject to customary closing adjustments. The purchase price represents an estimated multiple of over 18x projected fiscal year 2026 Adjusted EBITDA for the Ophir Optics business.
The Ophir Optics business provides high-precision infrared thermal imaging and laser optics solutions. These products serve customers in MKS’s Specialty Industrial market, with applications in defense, security, and industrial sectors. The transaction does not include the MKS Ophir Instruments laser characterization business or the sale of the Ophir brand. MKS stated that Ophir Instruments will continue to operate separately and that there will be no impact on the products, services, and support provided to its Ophir Instruments customers.
MKS intends to use the proceeds to further strengthen its balance sheet. The company noted that TTM is well-positioned to support the Ophir Optics business in its next phase of growth. The transaction is expected to close in the second quarter of 2027. It is subject to customary closing conditions, including regulatory approvals and certain governmental consents and permits.
J.P. Morgan Securities LLC is serving as the exclusive financial advisor, and Herzog Fox & Neeman is serving as the lead legal advisor to MKS in connection with this transaction.
