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March 19, 2018 4:09 pm

Another Israeli Hi-Tech Exit: KLA-Tencor Buys Orbotech for $3.4 Billion

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The Tel Aviv skyline at night. Photo: Gilad Avidan via Wikimedia Commons.

A deal was reached on Monday for Israeli electronics manufacturer Orbotech Ltd. to be acquired by the California-based KLA-Tencor Corporation for $3.4 billion.

Orbotech is the latest Israeli hi-tech firm to be acquired by an overseas giant, following the likes of Mobileye (by Intel) and Waze (by Google).

Israeli Prime Minister Benjamin Netanyahu hailed the sale, tweeting, “I was happy to hear the company, which employs 2,500 workers, will continue to operate from Yavneh. More good news for Israel’s hi-tech industry and economy!”

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