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Electronics Production | October 10, 2005

Teradyne sells Connection<br> Systems to Amphenol

Teradyne, Inc. announced today that it has reached an agreement to sell its Connection Systems division to Amphenol Corporation for $390 million in cash (subject to a post-closing net asset value adjustment).
Connection Systems, based in Nashua, NH, is a leading supplier of high-speed, high-density connectors, as well as high-performance printed circuit boards and backplane interconnect systems. In 2004, the division accounted for 23% of Teradyne's revenue.

"The sale of Connection Systems will sharpen our focus on our core test businesses," said Michael Bradley, Teradyne president and CEO. "That concentration will strengthen our ability to do what we do best - provide our test customers with better products and services that meet their evolving needs. This strategic move also increases our financial flexibility to support our growth plans in our core test businesses.

"While Connection Systems has been part of Teradyne for more than 30 years, the long term strategic direction of that business and the rest of Teradyne has been diverging. Connection Systems is a better fit with Amphenol, and we wish the new, combined team continued success in the future."

More details on this transaction will be supplied during the company's earnings conference call on Wednesday, October 19 at 10 a.m. EDT. The sale is subject to regulatory approval and customary closing conditions, and is expected to close in the fourth quarter.
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