MKS sells Ophir Optics business to TTM Technologies for $650 million
The all-cash deal excludes the Ophir Instruments laser characterization business and the Ophir brand, and is expected to close in the second quarter of 2027
Published
MKS has agreed to sell its Ophir Optics business to TTM Technologies in an all-cash deal valued at $650 million, subject to customary closing adjustments. The agreement excludes the Ophir Instruments laser characterization business and the Ophir brand, which MKS will keep.
John T.C. Lee, MKS's president and chief executive, said the sale lets the company "capitalize on the value we've created with the Ophir Optics business and further strengthen our balance sheet."
The deal is expected to close in the second quarter of 2027, pending regulatory approvals.
The move looks like portfolio pruning rather than a growth step for MKS. It keeps the higher-margin Ophir Instruments laser characterization business and the Ophir brand while handing off Ophir Optics, and Lee's framing points the $650 million toward the balance sheet rather than reinvestment in the unit. With the close more than a year away, any debt paydown or buyback tied to the proceeds remains theoretical for now. For TTM Technologies, the purchase is its third major addition in about a month, following its EPIQ deal and spending on AI capacity, which keeps the focus on how the Ophir Optics business gets folded in rather than on MKS itself.