Onto Innovation Inc. has announced a definitive agreement to acquire the materials analysis business of Semilab International. The transaction, valued at approximately $545 million, includes $475 million in cash and 706,215 shares of Onto Innovation common stock. This acquisition is expected to significantly enhance Onto Innovation's capabilities in the semiconductor value chain, particularly in areas with increasing device complexity such as AI chip production. The deal is anticipated to add over $130 million to Onto Innovation's annual revenue and to be immediately accretive to gross and operating margins, boosting non-GAAP earnings per share by over 10% in the first year. The transaction, subject to regulatory approvals and customary closing conditions, is expected to close in the second half of 2025.