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Shibaura Machine to Acquire Moore Nanotech for $150 Million

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Shibaura Machine's (TYO:6104) board of directors approved the acquisition of all capital stock of Moore Nanotechnology Systems for $150 million, according to a Tokyo bourse filing on Monday.

The deal, which is being carried out via its U.S. subsidiary, will make Nanotech an indirect wholly owned subsidiary, with the completion scheduled for the second half of the year.

Nanotech, an ultra-precision machine tool manufacturer based in New Hampshire, serves industries including optics, aerospace, defense, medical, and automotive, and has delivered over 1,000 machines to more than 30 countries.

The acquisition aims to expand Shibaura Machine's sales in Europe and America, particularly for grinding machines, while accelerating globalization of its ultra-precision machining business.

No financial forecasts for earnings were provided due to uncertain factors, though the company said it will notify when reasonably predictable.

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