Benzinga | Sep 28, 2021 07:42AM EDT

MKS Instruments To Acquire Atotech For Undisclosed Terms

* MKS Instruments Inc (NASDAQ:MKSI) agreed to acquire specialty-chemicals technology company Atotech Ltd (NYSE: ATC).

* The financial terms of the transaction remain undisclosed.

* Atotech, headquartered in Berlin, Germany, is a team of 4,000 employees in over 40 countries, generating an annual revenue of $1.2 billion in 2020.

* Atotech has manufacturing operations across Europe, the Americas, and Asia. With its well-established innovative strength and industry-leading global TechCenter network, Atotech delivers pioneering solutions combined with unparalleled on-site support for over 9,000 customers worldwide.

* Credit Suisse is acting as a financial advisor, and Latham & Watkins is acting as a legal advisor to Atotech. Ogier is advising Atotech as to Jersey law matters.

* MKS held $1 billion in cash and equivalents as of June 30.

* Price Action: ATC shares traded higher by 0.83% at $24.4 in the premarket session on the last check Tuesday.