Ophir Optronics Sold to TTM Technologies for Approximately $650 Million
Israeli optics and laser company Ophir Optronics is being acquired by TTM Technologies for approximately $650 million. The deal is expected to close in the second quarter of 2027.
Israeli optics and laser company Ophir Optronics is changing hands. Controlled by American technology firm MKS and formerly traded on the local exchange, the company is being acquired by TTM Technologies for approximately $650 million.
Acquisition Details and Timeline
Under the transaction, which is expected to close in the second quarter of 2027, TTM will acquire all shares of Ophir Optronics, operating from the Har Hotzvim high-tech park in Jerusalem, from current owner MKS Instruments. However, the deal reportedly does not include Ophir's laser characterization division, which will remain with MKS, nor does it include the sale of the Ophir brand.
Founded in 1976, Ophir develops and manufactures products for electro-optical systems across various fields. Among other things, the company manufactures infrared components and assemblies used for thermal imaging and night vision, serving various applications in the defense sector.
Financial Valuation and History
Since being delisted from the local stock exchange, the company has not published its financial results. However, estimates suggest the deal was executed based on a multiple of approximately 10 times the company's annual adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization).
"The transaction marks a significant milestone in the company's fifty-year history, reflecting its strong market position and technological expertise," market analysts noted.
Over its 50 years of operation, the company has undergone numerous transformations and changed hands several times. Founded by three PhD physicists—Prof. Jacob Zarem, Dr. Ephraim Greenfield, and Dr. Ephraim Skamski—the name Ophir was chosen as a portmanteau of optics and Jerusalem.
Evolution and Leadership
In 1991, the company went public on the Tel Aviv Stock Exchange, later attracting investments from prominent local market players including Gershon Skop and Benny Landa. In 2008, the FIMI Private Equity fund, managed by Yishai Davidi, acquired a 20% stake for $23.5 million, later achieving a significant exit when the company was sold in 2011 to American Newport for a valuation of approximately $230 million.
Today, the company employs about 250 workers and is managed by Dr. Kobi Lasri, maintaining its manufacturing operations in Jerusalem and Romania.
