WESTLAKE, OH -- Nordson has signed a definitive agreement to acquire CyberOptics in an all-cash transaction is valued at $54 a share, or approximately $380 million net of cash.

The closing price reflects a valuation of 18.5 times CyberOptics' trailing 12 months EBITDA, and 14.5 times net of cost synergies. The transaction is expected to close in Nordson’s first quarter fiscal 2023, pending applicable regulatory and shareholder approvals.

“We are looking forward to welcoming CyberOptics’ nearly 200 employees to Nordson. The company’s leading-edge 3D optical sensing technology and market leading wireless measurement sensors will expand Nordson’s current test and inspection capabilities, allowing us to offer new differentiated solutions to our semiconductor and electronics customers. Applying the NBS Next growth framework, we will invest in CyberOptics’ greatest opportunities for profitable growth while also providing the advantages of our global business infrastructure and customer-centric model,” said Sundaram Nagarajan, president and chief executive officer.

Headquartered in Minneapolis, CyberOptics generates approximately $100 million in annual revenue. It makes sensors used for inspection and metrology in the semiconductor and surface mount technology (SMT) markets, and AOI equipment for board and component inspection.

“Our global Test & Inspection division within the Advanced Technology Solutions segment predominantly serves the electronics market in diversified end customer applications and has been delivering consistent profitable growth,” said Joseph Kelley, executive vice president and chief financial officer. “The differentiated technologies of CyberOptics combined with Nordson’s global sales, applications and service infrastructure will enable accelerated growth rates and the realization of $6 million in net cost synergies.”

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