POWAY, CA  -- Cohu today announced that it has completed the sale of its Printed Circuit Board Test Group business to Mycronic.

In accordance with the previously announced definitive agreement, Cohu received cash proceeds of $125.4 million, subject to further potential post-closing adjustments related to a final determination of closing accounts. Cohu intends to use the net proceeds, after estimated transaction costs and taxes, to repay approximately $100 million of the outstanding principal on its term loan facility.

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