Wednesday, November 16, 2016
Cohu Buys Spring Probe Company
Poway-based Cohu said late Tuesday that it has agreed to acquire Kita Manufacturing Co LTD, a Japanese companies that develops products used in electronics manufacturing. Cohua said it would pay $15M in cash for Kita, funded out of its cash reserves and through assumption of operating debt of $2.6M net of cash acquired. The company said Kita had current year sales of estimated $17M. Kita designs, manufactures and sells spring probe contacts used in final test contactors, probe cards, PCB test boards and connectors .