Mergers and Acquistions News
Categories: Semi-Conductors
October 7th 2008, 15:41PM
Semiconductor assembly equipment designer Kulicke & Soffa Industries (K&S) has completed its takeover of Orthodyne Electronics Corporation.
The firm's chief financial officer Maurice Carson suggested that Orthodyne's rapid revenue growth over the last five years and projections relating to the health of the hybrid module and power management markets were the reasons behind the purchase.
"This acquisition demonstrates our commitment to finding and driving profitable growth," he remarked.
"We expect Orthodyne's business will provide meaningful improvement to our operating margins and contribute to our growth strategy."
The firm paid $80 million (£45.4 million) in cash for Orthodyne, on top of 7.1 million shares of K&S common stock.
If goals relating to profit growth are met over the next three years, there may be additional remuneration of $40 million.
K&S has been involved in numerous mergers and acquisitions in recent years.
In 2006, it sold its wafer test and package test businesses to SV Probe and Investcorp respectively.
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