Mergers & Acquisitions ·
Data I/O signs definitive agreement to acquire V-TEK and A&J Programming for $23M
DAIOData I/O Corp
Data I/O Corporation has signed a definitive agreement to acquire V-TEK, Inc., a semiconductor handling manufacturer, and A&J Programming, Inc., a device programming service provider. The total purchase price is approximately $23 million, paid in a combination of cash and company common stock valued at roughly $3 million (approximately 1.12 million shares). The transaction is expected to close this week, subject to customary closing conditions. Data I/O intends to fund the acquisition using proceeds from a concurrent proposed $13.25 million private placement of convertible debentures and equity securities. Data I/O Corporation provides data programming and security provisioning solutions for microcontrollers and memory devices.