05:43 PM EST, 12/16/2024 (MT Newswires) -- Cohu ( COHU ) said late Monday it has agreed to acquire Tignis, a software provider focused on artificial intelligence-powered process control and monitoring.

The company said it expects the deal to broaden its analytics offerings, with Tignis' PAICe Monitor and PAICe Maker solutions targeting the estimated $2.6 billion semiconductor process control market.

Terms of the transaction weren't disclosed, but Cohu ( COHU ) said they are "not material" to its financials.

The acquisition, set to close in January, will be funded via cash on hand, the company added.