The Israeli firm Orbotech — whose systems help produce virtually every electronic device in the world from computers to phones to connected cars — is being acquired by California’s KLA-Tencor Corporation in a transaction with an equity value of approximately $3.4 billion and an enterprise value of $3.2 billion.

This is the fifth largest acquisition in Israeli history, behind Mobileye($15.3b), NDS ($5b), Chromatis ($4.7b) and Playtika ($4.4b). KLA-Tencor expects the acquisition will add $2.5 billion of addressable market opportunity in the high-growth printed circuit board, flat-panel display, packaging and semiconductor manufacturing areas. Click here to read the article in its entirety