Chroma to acquire 20.5% stake in Israeli Camtek for $74m.

Chroma Ate, a leading Taiwanese high precision test and measurement equipment provider, agreed to acquire approximately 20.5% of the shares of Camtek, in a cash transaction. Deal values entire Camtek at $361m. Chroma will acquire Camtek shares from Priortech, the controlling shareholder of Camtek, for $58m, and new shares to be issued by Camtek, for $16m. The total cash consideration to be received by Camtek and Priortech amounts to $74m, and is calculated based on a share-price of $9.50 per Camtek share, which reflects a 29% premium on Camtek’s closing price as of February 8, 2019. After the closing of the transaction, Chroma will hold approximately 20.5%, while Priortech will hold approximately 24% of the total issued and outstanding shares of Camtek. Leo Huang, Chroma’s Chairman & CEO, commented,“Through this strategic investment and alliance, we will be able to leverage our White Light Interferometry technology, covering several high precision and large object testing and measurement applications, and utilizing Camtek’s patented Triangulation technology.”