ANDOVER, Mass., March 18, 2015 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (Nasdaq:MKSI), a global provider of technologies that enable advanced processes and improve productivity, announces the acquisition of Precisive, LLC, for $13 million in an all-cash transaction that closed yesterday.
Precisive is an innovative developer of optical analyzers based on Tunable Filter Spectroscopy (TFS) which provide real-time gas analysis in the natural gas and hydrocarbon processing industries, including refineries, hydrocarbon processing plants, gas-to-power machines, biogas processes and fuel gas transportation and metering, while delivering customers a substantially lower total cost of ownership. The Precisive TFS sensor platform has been on the market since 2008 with more than 2500 systems deployed.
"This acquisition is another step in executing our growth strategy," commented Gerald G. Colella, Chief Executive Officer and President of MKS Instruments. "We have previously said we are looking for opportunities to invest in growing our business in process and environmental markets and this is the first step in a multi-phased approach to execute on that strategy. Precisive presented a world-class technology that complements our existing Fourier Transform Infrared Spectroscopy (FTIR) based gas analysis systems and opens up additional opportunities in the energy market for MKS across multiple product lines. MKS is a financially strong company with a global infrastructure spanning three continents. We will leverage these strengths to continue to grow this business and expand its product offerings."
Dr. Vidi Saptari, founder of Precisive, said, "We are excited to be joining a well-established, global technology leader and helping to advance MKS' efforts to grow into the natural gas and process industries. Since 2007, we have worked closely with leaders in the industry to develop a product that lowers cost of instrumentation and truly meets – and exceeds – their analytical and harsh operational requirements. We believe our customers and channel partners will be enthusiastic about the additional resources and infrastructure we will have access to as a part of MKS."
About MKS Instruments
MKS Instruments, Inc. is a global provider of instruments, subsystems and process control solutions that measure, control, power, monitor and analyze critical parameters of advanced manufacturing processes to improve process performance and productivity. Our products are derived from our core competencies in pressure measurement and control, materials delivery, gas composition analysis, control and information technology, power and reactive gas generation, and vacuum technology. Our primary served markets are manufacturers of capital equipment for semiconductor devices, and for other thin film applications including flat panel displays, solar cells, light emitting diodes, data storage media, and other advanced coatings. We also leverage our technology in other markets with advanced manufacturing applications including medical equipment, pharmaceutical manufacturing, energy generation and environmental monitoring.
This release contains projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27 of the Securities Act, and Section 21E of the Securities Exchange Act regarding MKS' future growth and the future financial performance of MKS. These projections or statements are only predictions. Actual events or results may differ materially from those in the projections or other forward-looking statements set forth herein. Among the important factors that could cause actual events to differ materially from those in the projections or other forward-looking statements are the fluctuations in capital spending in the semiconductor industry, and other advanced manufacturing markets, fluctuations in net sales to MKS' major customers, potential fluctuations in quarterly results, the challenges, risks and costs involved with integrating the operations of MKS and any acquired companies, dependence on new product development, rapid technological and market change, acquisition strategy, manufacturing and sourcing risks, volatility of stock price, international operations, financial risk management, and future growth subject to risks. Readers are referred to MKS' filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q for a discussion of these and other important risk factors concerning MKS and its operations. MKS is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Seth H. Bagshaw Vice President, Chief Financial Officer and Treasurer Telephone: 978.645.5578
Source:MKS Instruments, Inc.