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Precision Surfacing Solutions to Acquire Meyer Burger Tech´s Wafering Division for CHF 50m
Monday 11 February 2019

11 February 2019 - Illinois, US-based Precision Surfacing Solutions (formerly Lapmaster Wolters Group) (PSS), a supplier of equipment and services for precision lapping, polishing, grinding and honing, has agreed to acquire the photovoltaic and specialised substrate material (for semiconductor and sapphire industries) wafering equipment and service business of Switzerland-based Meyer Burger, the company said.
The agreed purchase price is CHF 50m (USD 50m) in cash, which represents the approximate one-time net sales of the wafering equipment business. Completion of the acquisition is subject to standard closing conditions. The closing of the transaction is expected to be completed towards the end of 1Q19.
This contract also includes an earn-out component based on certain revenue levels in 2019. Both Meyer Burger and PSS view the transaction as an important strategic milestone, which will further strengthen two global technology leaders.
Precision Surfacing Solutions is a leader in the development of technology to produce micron accuracy surface finishes.
Meyer Burger Technology Ltd is a leading global technology company specialising in innovative systems and processes based on semiconductor technologies.
The company's focus is on photovoltaics (solar industry) while its competencies and technologies cover important areas of the semiconductor and the optoelectronic industries as well as other selected high-end markets based on semiconductor materials.
Details
Date Published: 11/02/2019
Target: Meyer Burger/photovoltaic and specialised substrate material wafering equipment and service business
Country: Switzerland
Deal Size: 50m (USD)
Sector: Computer Hardware
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Vendor: Meyer Burger
Buyer: Precision Surfacing Solutions
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