Mergers & Acquisitions ·
Data I/O completes $23M acquisition of V-TEK and raises $13.25M in private placement
DAIOData I/O Corp
Data I/O Corporation completed its acquisition of V-Tek Holdings, LLC's subsidiaries for approximately $23 million, consisting of $20 million in cash and $3 million in common stock valued at $2.68 per share. Concurrently, the company closed a private placement raising approximately $13.25 million through the sale of 746,266 shares of common stock and convertible debentures totaling $11.25 million. The proceeds from the financing are intended to fund a portion of the acquisition and for working capital. Data I/O is a global provider of data programming equipment, provisioning services, and security solutions for microcontrollers.