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Nordson Acquires CyberOptics

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Nordson Corporation recently announced the signing of a definitive agreement for the acquisition of CyberOptics Corporation, a global developer and manufacturer of high-precision 3D optical sensing technology solutions. The acquisition is aimed to improve Nordson’s test and inspection platform and provide technology that can expand Nordson’s product portfolio in the semiconductor and electronics industries.

“We are looking forward to welcoming CyberOptics’ nearly 200 employees to Nordson. The company’s leading-edge 3D optical sensing technology and market-leading wireless measurement sensors will expand Nordson’s current test and inspection capabilities, allowing us to offer new differentiated solutions to our semiconductor and electronics customers. Applying the NBS Next growth framework, we will invest in CyberOptics’ greatest opportunities for profitable growth while also providing the advantages of our global business infrastructure and customer-centric model,” said Sundaram Nagarajan, president and chief executive officer.

“Our global Test & Inspection division within the Advanced Technology Solutions segment predominantly serves the electronics market in diversified end-customer applications and has been delivering consistent profitable growth,” said Joseph Kelley, executive vice president and chief financial officer. “The differentiated technologies of CyberOptics combined with Nordson’s global sales, applications and service infrastructure will enable accelerated growth rates and the realization of $6 million in net cost synergies.”

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The acquisition is an all-cash transaction which was valued at $54 a share or approximately $380 million in net cash acquired, which reflects a valuation of 18.5 times CyberOptics trailing twelve months EBITDA and 14.5 times net cost synergies. The transaction is expected to close in Nordson’s first quarter of fiscal 2023, which is pending applicable regulatory and shareholder approval.

With its headquarters in Minneapolis, Minnesota, CyberOptics’ revenue generation is approximately $100 million annually. Its sensors are often used for inspection and metrology in the semiconductor and surface mount technology markets to improve yields and productivity.


 

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