Teradyne acquires Nextest following close of tender offer

By Lisa Kerner

Charlotte, N.C., Jan. 24 - Teradyne, Inc.'s $20-per-share tender offer for Nextest Systems Corp. ended at midnight on Wednesday and Teradyne completed its acquisition of Nextest.

As a result, Nextest's common stock will cease trading on the Nasdaq, according to a company news release.

NAC Equipment Corp., Teradyne's direct wholly owned subsidiary, merged with and into Nextest, and Nextest became a direct wholly owned subsidiary of Teradyne, the release stated.

Some 17,624,392 shares of Nextest common stock were validly tendered into the offer, including those tendered through guaranteed delivery.

Teradyne now owns more than 90% of Nextest's outstanding shares of common stock.

It was previously reported that Teradyne expected to expand its presence in the fast-growing flash memory test segment with the $325 million acquisition of Nextest.

Teradyne, based in North Reading, Mass., supplies automatic test equipment used in the consumer electronics, automotive, computing, telecommunications and aerospace and defense industries.

Nextest designs and manufactures automatic test equipment for flash memory and system-on-a-chip semiconductors. The company is located in San Jose, Calif.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.