Cohu to Acquire Ismeca for $54.5M

Cohu

today announced that it has agreed to acquire Ismeca Semiconductor Holding SA (Ismeca) from Schweiter Technologies AG for $54.5 million, plus acquired cash, to be funded out of Cohu's existing cash reserves. The transaction is subject to certain closing conditions and is expected to be completed during Cohu's first fiscal quarter of 2013. Ismeca, with headquarters in La Chaux-de-Fonds, Switzerland and major operations in Malacca, Malaysia and Suzhou, China, designs, manufactures and sells turret-based test handling and back-end finishing equipment for ICs, LEDs and discrete components. Ismeca's unaudited sales for the twelve months ended June 2012 were approximately $84 million. James A. Donahue, Cohu Chairman,