Cohu Successfully Delivers the Printed Circuit Board Test Business

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Cohu, a global provider of back-end semiconductor equipment and services, announced that it has completed the sale of its Printed Circuit Board Test Group business to Mycronic. Cohu offers the broadest portfolio of equipment and services for back-end semiconductor manufacturing, including a one-stop-shop for test and handling equipment, thermal subsystems, test contacting, vision inspection & metrology and MEMS test solutions.

In accordance with the previously announced definitive agreement, Cohu received cash proceeds of $125.4 million, subject to further potential post-closing adjustments related to a final determination of closing accounts. Cohu intends to use the net proceeds, after estimated transaction costs and taxes, to repay approximately $100 million of the outstanding principal on its term loan facility.

Mycronic has been a trusted partner to electronics and display manufacturers worldwide for over 40 years. They are leaders in the SMT, semiconductor and automotive industries and offer innovative products, services and solutions to create tomorrow’s electronics – from advanced displays to life-saving medical implants and the next generation of satellites.