Portland — Oregon’s original technology company, Electro Scientific Industries, sold Tuesday to a Massachusetts business for $1 billion in cash.
The $30-a-share sale price is a little more than double ESI’s closing stock price Monday. The Washington County company’s stock has been erratic despite a recent revival in its business amid soaring demand for ESI’s laser drills, used to manufacturing the iPhone and many other tech gadgets.
The buyer, MKS Instruments, had no immediate statement on the future of ESI’s Oregon operations or the roughly 220 employees who work at the company’s Washington County headquarters, north of Highway 26.
