Taiwan's Chroma to buy 20.5 pct of Israel's Camtek for $74.3 mln

Camtek

11/02/2019 09:34

TEL AVIV, Feb 11 (Reuters) - Chroma Ate Inc  2360.TW , a
Taiwanese provider of test and measurement equipment, has agreed
to buy 20.5 percent of Israel's Camtek Ltd  CAMT.TA  for $74.3
million in cash, Camtek said on Monday.
    Chroma will acquire 6.1 million Camtek shares from Priortech
Ltd  PRTC.TA , Camtek's controlling shareholder, 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 Feb. 8. After the closing Priortech will
hold 24 percent of Camtek, a maker of metrology and inspection
equipment for the semiconductor industry.
    Camtek will also license its triangulation technology, a
metrology solution, to Chroma for non-semiconductor
applications. In addition, Chroma and Camtek agreed to cooperate
in potential projects for the semiconductor market. 
    The deal is expected to close by the end of the second
quarter, subject to the approval of Camtek’s shareholders, as
well as regulatory approval.

 (Reporting by Tova Cohen
Editing by Steven Scheer)
 ((tova.cohen@thomsonreuters.com; +972-9-899-0222; Reuters
Messaging: tova.cohen.thomsonreuters.com@reuters.net))