TTM Technologies to Buy Ophir Optics in $650 Million Cash Deal

The Tip Desk · October 26, 2026 · 1 min read

MKS said the transaction represents an opportunity to capitalize on value created in the optics unit and further strengthen its balance sheet.

TTM Technologies, Inc. (TTMI) agreed to acquire the Ophir® Optics business from MKS Inc. for $650 million in cash, with the transaction expected to close in the second quarter of 2027.

MKS Inc. (MKSI), a global provider of enabling technologies, said the Ophir Optics business highlights how it can apply broad technology capabilities to serve attractive opportunities outside its core Semiconductor and Electronics & Packaging markets.

The Ophir Optics business provides high-precision infrared thermal imaging and laser optics solutions to customers in MKS’ Specialty Industrial market, serving defense, security and industrial applications. The purchase price represents an estimated multiple of over 18x projected FY 2026 Adjusted EBITDA for the Ophir Optics business.

John T.C. Lee, President and Chief Executive Officer of MKS Inc., said the deal represents an opportunity for the company to capitalize on the value it has created with the Ophir Optics business and further strengthen the balance sheet. He said MKS believes TTM is well positioned to support the business in its next phase of growth.

The transaction does not include the MKS Ophir Instruments laser characterization business, which operates separately from Ophir Optics, or the sale of the Ophir brand. Ophir Instruments provides laser power measurement and beam profiler solutions core to MKS’ photonics solutions portfolio, and there will be no impact on the products, services, and support MKS provides to its Ophir Instruments customers.

The all-cash purchase is expected to close in the second quarter of 2027, subject to customary closing conditions, including certain regulatory approvals and certain governmental consents and permits. J.P. Morgan Securities LLC is serving as exclusive financial advisor and Herzog Fox & Neeman is serving as lead legal advisor to MKS in connection with this transaction.