Onto Innovation to acquire Semilab’s materials analysis business for $545M

Onto Innovation (ONTO) announced it has entered into a definitive agreement to acquire the materials analysis business of Semilab International for $475M in cash and 706,215 shares of Onto Innovation common stock, valuing the transaction at approximately $545M. The acquisition adds four complementary product lines for inline wafer contamination monitoring and materials interface characterization. Onto Innovation expects the acquisition to add over $130M to its annual revenue and be immediately accretive to gross and operating margins, increasing non-GAAP EPS by over 10% in year one. The transaction is expected to close in the second half of 2025.