Newport-based SPTS Technologies Group has been bought by Orbotech of Israel for £215 million. The semiconductor equipment maker, which was owned by private-equity firm Bridgepoint, operates in 19 countries across Europe, North America and the Asia-Pacific region; it has manufacturing facilities in Allentown (Pennsylvania) and San Jose (California).

Bill Johnson, chief executive of SPTS, says: “This transaction combines two high-quality businesses that are leaders in their markets. Together, we will be a powerhouse of expertise in ‘micro’ manufacturing, providing a broad solution set of mission-critical capabilities to serve designers and manufacturers across the dynamic electronics-industry landscape.”