Data I/O Corporation has signed a definitive agreement to acquire V-TEK, Inc. and A&J Programming, Inc. for a total purchase price of approximately $23 million. The Redmond, Washington-based company will fund the transaction using a combination of cash and its own common stock.
The acquisition combines two distinct operational assets into Data I/O's existing portfolio. V-TEK, based in Mankato, Minnesota, manufactures semiconductor handling and packaging solutions. A&J Programming, located in San Jose, California, provides device programming services. Data I/O currently operates as a provider of data programming and security provisioning solutions for microcontrollers, security integrated circuits, and memory devices.
Of the total purchase price, approximately $3 million is structured as share consideration. This portion equates to approximately 1.12 million shares of Data I/O common stock. The company intends to satisfy the remaining cash portion of the purchase price using cash on hand and proceeds from a recently announced proposed securities offering of $13.25 million.
The deal is expected to close within the current week, subject to customary closing conditions. The securities and other funding transactions referenced in the acquisition have not been registered under the Securities Act of 1933 or applicable state securities laws. They may not be offered or sold absent registration or an applicable exemption.
Data I/O has developed electronic product design and manufacture solutions since 1972. Its customers utilize the company's data programming solutions and security deployment platform to secure the electronics supply chain and protect intellectual property for devices in automotive, Internet-of-Things, medical, wireless, consumer electronics, and industrial control applications.
The company disclosed the transaction through an 8-K filing, noting that it may use its website, investor relations page, X account, and LinkedIn page to disclose material non-public information in compliance with Regulation FD. Investors are advised to monitor these channels alongside Securities and Exchange Commission filings and public presentations.