Electro Scientific Industries Inc. (NasdaqGS:ESIO) signed a master purchase and sale agreement to acquire the Semiconductor Systems business from GSI Group Inc. (NasdaqGS:GSIG), Gsi Group Japan Corporation, GSI Group Corporation and GSI Group GmbH for $8 million on April 9, 2013. The transaction is subject to consents from third parties. The transaction is expected to close within thirty days from the date of announcement. It is expected to add $0.05 to $0.10 to non-GAAP ... earnings per share in the first year for Electro Scientific. Steven H. Hull of Stoel Rives LLP acted as legal advisor for Electro Scientific. James Gorton and Paul Kukish of Latham & Watkins LLP acted as legal advisor for GSI Group.
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GSI Group Inc. (NasdaqGS:GSIG) acquired NDS Surgical Imaging, LLC from NDSSI Holdings LLC, Fifth Street Capital LLC, Riverside Fund III, L.P. of Riverside Partners LLC and other investors for $82.5 million in cash on January 15, 2013. The purchase price is subject to customary closing adjustments. The transaction is financed using approximately $25 million of cash on-hand with the remainder from GSI Group's new credit facility. The transaction is earnings accretive and ... is expected to add more than $80 million in revenue and nearly $12 million of Adjusted EBITDA to GSI's financial results in 2013. Houlihan Lokey acted as the financial advisor to GSI and provided a fairness opinion to GSI's Board of Directors. T.J. Murphy of Choate, Hall & Stewart LLP acted as legal advisor for NDSSI Holdings. Christopher J. Hewitt of Tucker Ellis LLP acted as legal advisor for GSI Group. Key Bank National Association acted as escrow agent for the transaction. Christopher Hewitt of Jones Day acted as legal advisor to GSI Group.
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