MKS Instruments Announces Closing of Photon Control Acquisition

Rhea-AI Summary

MKS Instruments (NASDAQ: MKSI) has finalized its acquisition of Photon Control Inc. (TSX: PHO), which enhances its technology solutions for the semiconductor market. This strategic move aims to bolster MKS's Surround the Chamber® portfolio by integrating optical sensors for temperature control essential for semiconductor wafer fabrication. MKS President and CEO John T.C. Lee highlighted the cultural alignment and shared vision between the two companies, anticipating the acquisition to amplify productivity and process performance.

Positive

• Acquisition of Photon Control strengthens MKS's Surround the Chamber® portfolio.
• Integration of optical sensors enhances capabilities for semiconductor wafer fabrication.
• Cultural alignment and shared vision expected to facilitate smooth integration.

Negative

• Potential integration challenges could impact operational efficiency.
• Risk of failing to realize expected benefits from the acquisition.

• Expands Technology Solutions for Key Customers in Semiconductor Market   
• Acquiring a Leader in Optical Sensors for Temperature Control used in Semiconductor Wafer Fabrication   
• Enhances the MKS Surround the Chamber® Portfolio  
  

ANDOVER, Mass., July 15, 2021 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ: MKSI) (“MKS”), a global provider of technologies that enable advanced processes and improve productivity, today announced the completion of its previously announced acquisition of Photon Control Inc. (TSX:PHO).

“We anticipate the acquisition will further advance the MKS strategy to enhance our Surround the Chamber® offering by adding optical sensors for temperature control for critical etch and deposition applications in semiconductor wafer fabrication," said MKS President and CEO John T.C. Lee. “In addition, Photon Control is a strong strategic fit with similar culture and vision to MKS.”  

About MKS Instruments  
MKS Instruments, Inc. is a global provider of instruments, systems, subsystems and process control solutions that measure, monitor, deliver, analyze, power and control critical parameters of advanced manufacturing processes to improve process performance and productivity for our customers. Our products are derived from our core competencies in pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, electronic control technology, reactive gas generation and delivery, power generation and delivery, vacuum technology, lasers, photonics, optics, precision motion control, vibration control and laser-based manufacturing systems solutions. We also provide services relating to the maintenance and repair of our products, installation services and training. Our primary served markets include semiconductor, industrial technologies, life and health sciences, and research and defense. Additional information can be found at www.mksinst.com.  
 
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS  
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding the future financial performance, business prospects and growth of MKS. These statements are only predictions based on current assumptions and expectations. Any statements that are not statements of historical fact (including statements containing the words “will,” “projects,” “intends,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” “forecasts,” “continues” and similar expressions) should be considered to be forward-looking statements. Actual events or results may differ materially from those in the forward-looking statements set forth herein. Among the important factors that could cause actual events to differ materially from those in the forward-looking statements are our ability to successfully operate or integrate the Photon Control business into MKS, our ability to retain and integrate Photon Control employees into MKS, our ability to realize the expected benefits of the acquisition, and the other factors described in MKS’ Annual Report on Form 10-K for the year ended December 31, 2020 and any subsequent Quarterly Reports on Form 10-Q, as filed with the SEC. MKS is under no obligation to, and expressly disclaims any obligation to, update or alter these forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release.  

MKS Contacts:  
Investor Relations:  
David Ryzhik  
Vice President, Investor Relations  
Telephone: (978) 557-5180  
Email: david.ryzhik@mksinst.com  
  
Press Relations:  
Bill Casey  
Senior Director, Marketing Communications  
Telephone: (630) 995-6384  
Email: bill.casey@mksinst.com  
  
Tom Davies / Jeremy Fielding  
Kekst CNC 
Emails: tom.davies@kekstcnc.com / jeremy.fielding@kekstcnc.com   

FAQ

What is the purpose of MKS Instruments' acquisition of Photon Control?

The acquisition aims to enhance MKS's Surround the Chamber® technology by adding optical sensors for temperature control in semiconductor wafer fabrication.

What strategic benefits does MKS expect from acquiring Photon Control?

MKS anticipates improved productivity and process performance in the semiconductor market by integrating Photon Control's technology.

When was the acquisition of Photon Control by MKS Instruments completed?

The acquisition was completed on July 15, 2021.

How will the acquisition of Photon Control impact MKS's shareholders?

While the acquisition is expected to enhance MKS's product offerings, potential integration challenges could pose risks to achieving anticipated benefits, impacting shareholders.