Orbotech Buys Out Partner in Joint Fab Subsidiary
Israel-based Orbotech awaits Chinese regulatory approval for its acquisition by U.S.-based KLA-Tencor
Lilach Baumer | 08:41 27.12.2018
Nasdaq-listed Orbotech has bought out its partner in Frontline P.C.B. Solutions Ltd., a company primarily developing computer-aided manufacturing and archiving processes for bare printed circuit board fabrication, the company announced in a filing to the U.S. Securities and Exchange Commission Wednesday.
For daily updates, subscribe to our newsletter by clicking here.Orbotech agreed to pay $85 million in cash out of its reserves to buy the remaining 50% stake in Frontline, which is based in Israel’s Rehovot, and pay another $10 million over the next four years. The company also agreed to pay an earn out of $5 million to $20 million, based on revenues from a still-under-development Frontline product.