Kulicke & Soffa completes Orthodyne purchase
Kulicke & Soffa Industries Inc., Fort Washington, announced today that it had completed its acquisition of Orthodyne Electronics Corp., of Irvine, Calif., for 7.1 million shares of K&S common stock, plus $80 million in cash.
Kulicke & Soffa Industries Inc., Fort Washington, announced today that it had completed its acquisition of Orthodyne Electronics Corp., of Irvine, Calif., for 7.1 million shares of K&S common stock, plus $80 million in cash.
The deal could be worth an additional $40 million in cash if Orthodyne meets specific gross profit objectives over the next three years, Kulicke and Soffa said in a release.
Kulicke & Soffa designs and makes semiconductor assembly equipment; Orthodyne makes assembly equipment used in the industry.
Kulicke & Soffa was priced at $3.74, down $0.08 (-2.09 percent), in Nasdaq trading.