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Posted: Jul 04, 2011
Verigy Announces Completion of Acquisition by Advantest
(Nanowerk News) Verigy, an Advantest Group company and a global supplier of innovative test solutions, announced today that Advantest Corporation completed its acquisition of Verigy in an all-cash transaction, estimated to be approximately $1.1 billion. As a result of the acquisition, Verigy shareholders will receive $15.00 per share in cash for each Verigy ordinary share they own. Verigy has notified NASDAQ that the transaction is complete, and has requested that trading of Verigy ordinary shares be suspended.
Verigy will operate as a wholly owned subsidiary of Advantest and will be known as an Advantest Group company. Jorge Titinger, Verigy's president and CEO, will continue to lead the organization in his current role, reporting to Haruo Matsuno, Advantest's president and CEO.
"As a combined company, we will offer the most innovative test solutions to cover all memory and SOC requirements, and these solutions will be backed by the largest and most experienced global sales and applications teams in our industry," said Jorge Titinger, president and CEO, Verigy. "We will expand our already strong presence at leading IDMs, fabless companies, foundries and OSATs. Now, as part of Advantest, we expect to support a broader and deeper penetration of the combined company's product portfolio. As a result, we intend to accelerate revenue growth and increase overall ATE market share. I look forward to working with the Advantest organization to build the number one global supplier of innovative test solutions."
About Verigy, an Advantest Group
Verigy provides advanced semiconductor test systems and solutions used by leading companies worldwide in design validation, characterization, and high-volume manufacturing test. Verigy offers scalable platforms for a wide range of system-on-chip (SOC) test solutions, and memory test solutions for Flash, DRAM including high-speed memories, as well as multi-chip packages (MCP). Verigy also provides advanced analysis tools that accelerate design debug and yield ramp processes. Additional information about Verigy, an Advantest Group company, can be found at www.verigy.com. Information about Advantest can be found at www.advantest.com.