Electronics Production | September 15, 2011
Teradyne acquires LitePoint
Teradyne has signed a definitive agreement to purchase privately held LitePoint Corporation, a provider of production line test equipment for wireless products including smart phones, tablets and WiFi-enabled PCs.
Teradyne is to purchase LitePoint for USD 510 million net of LitePoint cash and tax benefits plus USD 70 million if certain performance targets are met extending through 2012. The acquisition has been approved by the Board of Directors of each company and is expected to close in the fourth quarter of 2011 subject to customary closing conditions and regulatory approvals. "We're very pleased to be joining forces with LitePoint," said Mike Bradley, President and CEO of Teradyne. "This acquisition provides another very significant growth engine to our business and complements our existing chip and system-level technology portfolio.” “The combination creates unparalleled chip to system technical expertise, which will deepen and strengthen our products and support,” said Dr. Benny Madsen, Chairman and CEO of LitePoint. “Teradyne’s world-class, high-volume test expertise will be transformational to our wireless test solutions and to the industry as a whole.”