A multi-chip module (MCM) is described in which at least two substrates are mechanically coupled by an adhesive layer that maintains alignment and a zero (or near zero) spacing between proximity connectors on surfaces of the substrates, thereby facilitating high signal quality during proximity communication between the substrates. In order to provide sufficient shear strength, the adhesive layer has a thickness that is larger than the spacing. This may be accomplished using one or more positive and/or negative features on the substrates. For example, the adhesive may be bonded to: one of the surfaces and an inner surface of a channel that is recessed below the other surface; inner surfaces of channels that are recessed below both of the surfaces; or both of the surfaces. In this last case, the zero (or near zero) spacing may be achieved by disposing proximity connectors on a mesa that protrudes above at least one of the substrate surfaces.