04:57 PM EDT, 07/16/2024 (MT Newswires) -- Aehr Test Systems ( AEHR ) said late Tuesday it signed an agreement to acquire all of the outstanding capital stock of Incal Technology, a privately held maker of packaged part reliability/burn-in test solutions.

The price tag on the deal is $21 million, consisting of $14 million in cash and 552,355 Aehr common shares at $12.673 per share.

The company said a "significant number" of leading Artificial Intelligence semiconductor manufacturers use these solutions. It expects the acquisition to be "immediately accretive."

The boards of both companies have approved the transaction, which is not subject to any financing condition. The acquisition will likely close within the next 60 days.

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