Kulicke And Soffa To Buy Assembleon For $98 Mln - Quick Facts

(RTTNews) - Kulicke and Soffa Industries Inc (KLIC), a maker of semiconductor and LED equipment, on Monday agreed to buy Assembléon B.V. for $98 million in cash.

Assembléon B.V., originally part of Philips Electronics Netherlands, provides assembly equipment, processes and services for the backend semiconductor market. Assembléon's calendar 2014 revenue is anticipated to be about $90 million.

Kulicke & Soffa intends to close the deal by January 15, 2015 and expects the transaction to be accretive within the first year.

Bruno Guilmart, Kulicke & Soffa's CEO, said, "Assembléon's existing solutions and technological competencies present a very attractive strategic opportunity and further extend our ability to capitalize on the advanced packaging market. Assembléon brings a deep-rooted history of innovation, a portfolio of solutions with industry leading process capabilities and meaningful participation in the automotive and industrial markets serving a strong base of leading customers."