TTM Bolsters Defense Optics With Deal for MKS's Ophir Infrared Unit
TTMI sits 82% above its 52-week low of $54.43.
Summary
TTM agreed to buy MKS Inc.'s Ophir Optics business for $650M in an all-cash transaction, adding infrared optics capability to its aerospace and defense portfolio. The deal is expected to close in the second quarter of 2027. This is TTM's second deal in roughly two months, following the $1.1B Epiq Solutions acquisition that closed September 30 and was funded with $500M of 6.750% notes due 2034 plus incremental term loans. The strategic logic fits the company's push into higher-margin defense and AI data-center work, but the balance sheet is already carrying fresh acquisition debt.
At the time of this announcement, TTMI was trading at $99.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $9.9B. The 52-week trading range was $54.43 to $223.83. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.