- Kulicke & Soffa (NASDAQ:KLIC) is acquiring Assembleon, a Dutch provider of chip packaging, chip substrate manufacturing, and auto/industrial manufacturing equipment, for $98M in cash. The deal is expected to close by Jan. 15, and be accretive within its first year.
- Assembleon, once a Philips unit, is expected to have 2014 revenue of $90M. Kulicke, a top supplier of bonding equipment for the chip industry, declares Assembleon's "existing solutions and technological competencies present a very attractive strategic opportunity and further extend our ability to capitalize on the advanced packaging market."
- With Kulicke possessing $597.1M in cash at the end of Q3, the purchase can be easily financed using cash on hand, even after accounting for the company's $100M buyback.