September 22, 2011

Teradyne Announces Agreement to Acquire LitePoint, Leader in Wireless Product Test

Teradyne, Inc. (NYSE:TER) recently announced it has signed a definitive agreement to purchase privately held LitePoint Corporation, a leading provider of production line test equipment for wireless products including smart phones, tablets and WiFi-enabled PCs, for $510 million net of LitePoint cash and tax benefits plus $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.

The explosive growth of the mobile Internet will drive the number of wireless devices from 2 billion to over 3 billion by 2014. Extending from computers, smart phones and tablets to automobiles and home appliances, wireless communication networks are the fabric connecting modern society. The low-cost and high-quality test of products operating in these networks is a fundamental driver of that growth.

LitePoint provides the leading solutions for production testing of wireless products. Using easy-to-deploy, innovative test methodologies running on a software-controlled modular design, LitePoint’s IQ product line is the industry standard for high-volume, low-cost product test. LitePoint had sales of $86 million in 2010 and is projecting sales of $125-$135 million in 2011.

"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.”

A webcast replay on discussion of the acquisition is available on the Teradyne website,, through October 12, 2011.

About LitePoint
LitePoint is based in Sunnyvale, California. The company designs, develops, and supports advanced wireless test solutions for developers of wireless devices and consumer electronics, contract manufacturers, and wireless integrated circuit designers. LitePoint solutions have optimized and verified the operation of more than one billion wireless devices worldwide. LitePoint products are used in development environments and high-volume manufacturing and provide its customers with superior ROI, faster time-to-market, improved manufacturing yields, higher product quality, and increased profitability. For more, go to

About Teradyne
Teradyne (NYSE:TER) is the leading supplier of Automatic Test Equipment used to test complex electronics used in the consumer electronics, automotive, computing, telecommunications, and aerospace and defense industries. Teradyne had 2010 sales of $1.6 billion and employs about 3,000 people worldwide. For more information, visit Teradyne(R) is a registered trademark of Teradyne, Inc. in the U.S. and other countries.

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