Acquisitions

6 Months Ended

Jun. 28, 2025

Business Combination [Abstract]

Business Combination [Text Block]

NOTE 2. Acquisitions

Proposed Acquisition

On June 27, 2025, we entered into a definitive agreement to acquire all the outstanding membership interests of Semilab USA LLC (“Semilab USA”) from Semilab International Zrt. (“Semilab”), for $475.0 million in cash (subject to certain customary purchase price adjustments) and 706,215 shares of the Company’s common stock. Based on the closing price of Onto Innovation’s common stock on June 27, 2025, the total transaction value is approximately $545.0 million. The transaction is expected to close in the second half of 2025, subject to the satisfaction of customary closing conditions, including U.S. and Hungarian regulatory approvals.

In the second quarter of fiscal 2025, the Company incurred $2.5 million of transaction-related costs recorded within the caption “General and administrative” in the Company’s Condensed Consolidated Statements of Operations.