Shanghai-based private equity fund Principle Capital has signed a definitive agreement with Camtek Ltd., a NASDAQ-listed Israeli semiconductor component manufacturer, to buy its printed circuit board (PCB) business for US$35 million.
Under the agreement, US$32 will be paid in cash upon closing, which is expected during the third quarter of this year. An additional amount of up to US$3 million will be paid conditionally based upon the PCB business' financial performance in 2018, according to a company announcement.
Camtek's worldwide PCB organization is expected to remain intact, including its research and development operations, which will continue operating from Israel with its Israeli personnel.
“This agreement will enable Principle Capital to build a leading Asia based PCB inspection and metrology company, capitalizing on our we...
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