Thursday, October 16, 2008

Electro Scientific Merges With Zygo

Portland-based Electro Scientific Industries and Connecticut-based Zygo Corporation said Thursday that the two firms will merge in an all-stock transaction. According to the firms, Zygo shareholders will receive 1.0233 shares of ESI stock for each share of Zygo stock they own. Both companies devlelop optical instruments, including metrology instruments for the semiconductor industry, laser systems for the microelectronics industry, and other related products. The firms said that the merger will create a firm with approximately $458M in combined revenues for calendar year 2007. ESI was advised by Needham and Company in the deal; Zygo was advised by Goldman Sachs.