Nordson Corporation NDSN has signed a definitive agreement to acquire CyberOptics Corporation, a developer and manufacturer of high-precision 3D optical sensing technology solutions. CyberOptics generates annual revenues of approximately $100 million.
The all-cash transaction is valued at around $380 million (or $54 per share). The deal value represents a 31% premium over CyberOptics' closing price on Friday. Subject to regulatory approvals, the transaction is expected to close in the first quarter of fiscal 2023.
The buyout will expand Nordson’s semiconductor test and inspection capabilities with the help of CyberOptics’ 3D optical sensing technology and wireless measurement sensors. It will allow NDSN to offer new differentiated solutions to its semiconductor and electronics customers.
Nordson Corporation Price
Nordson Corporation price | Nordson Corporation Quote
CyberOptics’ innovative and proprietary 3D Multi-Reflection Suppression optical sensor technology and WaferSense® wireless measurement sensors will enable Nordson to expand into new areas of the semiconductor wafer fabrication and packaging process.
Nordson’s measures to expand operations through acquisitions are fostering its growth. Last November, the company acquired NDC Technologies, which has expanded its test and inspection platform. The buyout has strengthened NDSN’s position in the electronics end market and has helped the company expand into new end markets, including film extrusion & converting, consumer non-durable, cable & tubing and energy storage.
Zacks Rank & Key Picks
Nordson carries a Zacks Rank #3 (Hold). Some better-ranked stocks within the broader Industrial Products sector are as follows:
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Titan International has an estimated earnings growth rate of 157.7% for the current year. Shares of the company have rallied 37.5% in the past six months.
Greif, Inc. GEF presently carries a Zacks Rank #2 (Buy). GEF delivered a trailing four-quarter earnings surprise of 22.9%, on average.
Greif has an estimated earnings growth rate of 36.8% for the current year. Shares of the company have gained 25.2% in the past six months.
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