Mergers and Acquistions News
Categories: Semi-Conductors
October 1st 2008, 15:08PM
WC Heraeus has acquired the wire business unit of Fort Washington-based supplier of chip assembly equipment and packaging materials Kulicke and Soffa Industries (K&S).
Under the terms of the deal, WC Heraeus will pay $165 million (£92.8 million) for the business, including estimated working capital adjustments, Semiconductor Today reports.
The firms have also entered into an agreement to offer one another reciprocal base engineering support and will consider supporting future packaging needs of their customers via joint research and development initiatives.
Maurice Carson, senior vice president and chief financial officer of K&S, said: "This transaction strengthens our balance sheet and, together with our pending acquisition of Orthodyne [a supplier of ultrasonic wedge bonders and wedges for the power management and hybrid module markets], will deliver value to our shareholders."
He added that, together with its investment in Alphasem last year, the sale would boost its already strong position in the semiconductor assembly market.
Last month, K&S launched its RelMax gold bonding wire and the Uniplus series of hub dicing blades.
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