WILMINGTON, Mass.– Onto Innovation Inc. (NYSE: ONTO) has announced a definitive agreement to acquire the materials analysis business of Semilab International in a deal valued at approximately $545 million. The transaction, which includes $475 million in cash and 706,215 shares of Onto Innovation stock, is expected to close in the second half of 2025 pending regulatory approvals in the U.S. and Hungary.
The acquisition brings four advanced product lines specializing in wafer contamination monitoring and materials interface characterization—critical tools for next-generation semiconductor manufacturing. The acquired portfolio generated roughly $130 million in annual revenue in 2025 and has posted a compound annual growth rate of 20% since 2021.
Onto Innovation said the deal aligns with its strategy to expand in high-growth, high-margin sectors of the semiconductor industry, particularly advanced packaging, compound semiconductors, and chips used in artificial intelligence applications. The company expects the acquisition to be immediately accretive to gross and operating margins and to increase non-GAAP earnings per share by more than 10% in the first year post-close.
“This acquisition expands our portfolio of process control technologies, which work together to help customers achieve their yield targets,” said Onto Innovation CEO Mike Plisinski. “We’re excited to welcome Semilab’s materials characterization team. Their products are not only broadly adopted but also offer strong synergies with our modeling and acoustic metrology technologies.”
The acquisition will also allow Onto Innovation to integrate its proprietary Ai Diffract™ modeling engine with Semilab’s solutions, accelerating yield learning for new devices in advanced nodes and power semiconductor applications.
To ensure a seamless transition, the two companies have developed detailed transition service plans to maintain customer continuity post-close. Onto Innovation reaffirmed its second-quarter guidance and will provide additional information during its upcoming earnings release in early August.
Barclays Capital Inc. is acting as financial advisor to Onto Innovation, with Simpson Thacher & Bartlett LLP providing legal counsel. Semilab is advised by Needham & Company, LLC and Hill, Ward & Henderson P.A.
