Electro Scientific Industries has a new division under its corporate wing. The company has inked a definitive agreement to purchase the semiconductor systems unit of GSI Group . The terms of the deal were not disclosed.
ESI said in its press release that the buy "brings together two of the preeminent providers of laser manufacturing systems serving the semiconductor industry."
According to company estimates, the new unit should bring in roughly $20 million-$30 million in annual revenue. In its first year as part of ESI, it should contribute $0.05-$0.10 per share in non-GAAP earnings.
The article ESI Acquires Semiconductor Systems Unit from GSI originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.