Cohu - M&A Summary and Business Overview

Test/measurement EquipmentCompany

Cohu M&A Summary

Cohu has acquired 10 companies, including 3 in the last 5 years. It has also divested 3 assets.

Cohu’s largest acquisition to date was in 2018, when it acquired Xcerra for $627M. Cohu has acquired in 5 different US states, and 5 countries. The Company’s most targeted sectors include semiconductors (40%) and test/measurement equipment (40%).

Cohu Business Overview

Where is Cohu headquartered?

Cohu is headquartered in Poway, California.

What is Cohu’s revenue?

Cohu disclosed revenue of 636M USD for 2023 and 813M USD for 2022.

How many employees does Cohu have?

Cohu has 3,191 employees.

What sector is Cohu in?

Cohu is a test/measurement equipment company.

When was Cohu founded?

Cohu was founded in 1947.

M&A Summary

  • M&A Total Activity13
    • M&A Buy Activity10
    • M&A Sell Activity3
  • Total Sectors Invested 4
  • Total Countries Invested 5
  • M&A Buy/Sell Connections 5
  • M&A Advisors 4

Cohu

Cohu, Inc.

12367 Crosthwaite Circle,
Poway, California 92064
United States,
(858) 848-8100
www.cohu.com

Cohu is a provider of test handling, thermal subsystems, package inspection, contactors and MEMS test equipment solutions used by the semiconductor industry. Cohu was founded in 1947 and is based in Poway, California.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 7 - - - 2 1 10
vol $785M $785M
Sell (0.2/yr) # 2 - 1 - - - 3
  13

Most Recent M&A

Company Date Value Type
Tignis 2024-12-16 - Add-on Acquisition
Seattle, Washington · www.tignis.com
Equiptest Engineering Pte Ltd. 2023-10-02 - Add-on Acquisition
Singapore, Singapore · www.equiptest.com.sg
MCT Worldwide LLC 2023-01-30 - Add-on Acquisition
Minneapolis, Minnesota · www.mctint.com
atg Luther & Maelzer GmbH 2021-05-10 - Divestiture
Wertheim, Germany · www.atg-lm.com
Xcerra Corp. 2018-05-08 627M USD Add-on Acquisition
Norwood, Massachusetts · www.xcerra.com
Kita Manufacturing Co. Ltd. 2016-11-15 15M USD Add-on Acquisition
Sennan City, Japan · www.kita-mfg.com
Fisher Research Laboratory 2016-05-16 - Divestiture
El Paso, Texas · www.fisherlab.com
Broadcast Microwave Services, Inc. 2015-06-11 - Divestiture
Poway, California · www.bms-inc.com
Ismeca Semiconductor Holding SA 2012-12-09 55M USD Divestiture
La Chaux-de-Fonds, Switzerland · www.ismeca-semiconductor.net
Rasco GmbH 2008-12-08 80M USD Divestiture
Kolbermoor, Germany
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Test/Measurement Equipment 4 (40%) 642M (82%) 1 (33%) -
Semiconductors 4 (40%) 143M (18%) - -
Technology Hardware 1 (10%) - 1 (33%) -
Information Technology 1 (10%) - - -
Safety/Security - - 1 (33%) -
Total 10 $785M 3 -

By Geo

State/Country Buy Value Sell Value
United States 6 635M 2 -
  California 2 - 1 -
  Washington 1 - - -
  Pennsylvania 1 8M - -
  Minnesota 1 - - -
  Massachusetts 1 627M - -
  Texas - - 1 -
Germany 1 80M 1 -
Japan 1 15M - -
Singapore 1 - - -
Switzerland 1 55M - -
Domestic 6 (60%) 635M (81%) 2 (67%) -
Cross-border 4 (40%) 150M (19%) 1 (33%) -
Total 10 $785M 3 -

Top M&A Advisors

Financial Deals
Needham & Co. LLC
1
Philpott Ball & Werner LLC
1
Deutsche Bank Corporate & Investment Banking
1
Legal Deals
Cleary Gottlieb Steen & Hamilton
1

Deal Values

buy # Total
$100M to $1B 1 $627M
< $100M 4 $158M
TOTAL $785M
Largest Xcerra Corp.
$627M (2018-05-08)

M&A Connections

Deals
Acquired from
Strategic(s)
30%
3 (30%)
Divested to
Investor(s)
33%
1 (33%)
Strategic(s)
33%
1 (33%)

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