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CESSATION OF BUSINESS | 3 Months Ended
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Dec. 28, 2024
Cessation Of Business [Abstract] |
CESSATION OF BUSINESS | 16. CESSATION OF BUSINESS Cancellation of Project The Company was engaged by one of its customers (the "Customer") to support the Customer with the development and future mass production of certain technologies relating to advanced display (the "Project"), previously referred to as Project W. As previously disclosed in fiscal 2024, in connection with the Customer's strategic review of its business, the Customer informed the Company that it cancelled the Project. On November 4, 2024, the Company and the Customer entered into a written agreement pursuant to which the Customer had agreed to reimburse the Company for certain costs and expenses that the Company incurred in connection with the Project. Pursuant to the agreement, the Customer agreed to pay $86.2 million to the Company. $15.1 million was included within "Net Revenue" for delivered products. The remaining $71.1 million was included in "Gain relating to cessation of business" in the Consolidated Condensed Statements of Operations, with the corresponding increase to the Accounts and other receivable in our Consolidated Condensed Balance Sheets. Disposal of a subsidiary On October 16, 2024, the Company, through one of its subsidiaries, Kulicke and Soffa Holland Holdings B.V., entered into a Share Sale and Purchase Agreement with Onto Innovation Europe B.V. ("Onto") for the sale of 100% of the common shares of Kulicke & Soffa Liteq B.V. ("K&S Liteq") and its related lithography business. The sale was completed on October 18, 2024. Accordingly, the Company has deconsolidated K&S Liteq in the Company’s unaudited condensed consolidated financial statements. The disposal of K&S Liteq did not have a material impact on our consolidated financial statements.

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