© mikael damkier dreamstime.com Electronics Production | January 09, 2017
Cohu completes acquisition of Kita
Cohu, Inc. has completed its previously disclosed acquisition of Kita Manufacturing, a Japan-based company that designs, manufactures and sells spring probe contacts used in final test contactors, probe cards, PCB test boards and connectors.
Kita’s sales for 2016 were approximately USD 17 million. The purchase price was USD 15 million in cash funded out of Cohu’s existing cash reserves plus the assumption of debt including that for a manufacturing capacity expansion in Osaka. The purchase agreement also provides for up to USD 3 million of contingent earn-out cash consideration based on certain growth targets for revenue and profitability.