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Cohu Completes Sale of its PCB Test Business
June 25, 2021 | Business WireEstimated reading time: Less than a minute
Cohu, Inc., a global leader in back-end semiconductor equipment and services, today announced that it has completed the sale of its Printed Circuit Board Test Group business to Mycronic AB (MYCR.ST).
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.
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