Buyout Update. "Another One."
In our previous blog posts, we talked about buyouts in the small cap space. This week, one of our holdings CyberOptics Corporation (CYBE) was bought out by Nordson Corporation.
CyberOptics develops and manufactures precision sensing technology solutions. The company’s sensors are used in SMT, semiconductor, metrology, and 3D scanning markets to improve quality control, yields and the overall production process. Nordson Corporation, the acquirer, manufactures high precision test and inspection equipment. When we first purchased the stock, we believed that CYBE was an acquisition target for companies in the semiconductor inspection equipment supply chain.
This deal makes sense for CyberOptics as they can further enhance the company’s scale and leverage the company’s technology solutions for the long term. The all-cash merger is expected to close by the end of the year. Prior to the announcement, the stock was trading at ~$40 per share. The acquisition is expected to close at $54 per share representing a +30% increase in the stock price from prior levels.