LTX-Credence Corporation (NASDAQ: LTXC) today announced that on March 25, 2011, it notified Verigy Ltd. of the termination of the merger agreement between the companies, effective immediately, due to the occurrence of a Triggering Event (as defined in the merger agreement) with respect to Verigy. On March 25, 2011, Verigy paid LTX-Credence the $15,000,000 termination fee payable under the merger agreement.
LTX-Credence is a global provider of ATE solutions designed to deliver value through innovation enabling customers to implement best-in-class test strategies to maximize their profitability. LTX-Credence addresses the broad, divergent test requirements of the wireless, computing, automotive and entertainment market segments, offering a comprehensive portfolio of technologies, the largest installed base in the Asia-Pacific region, and a global network of strategically deployed applications and support resources. Additional information can be found at www.ltxc.com.
LTX-Credence and LTXC are trademarks of LTX-Credence Corporation.All other trademarks are the property of their respective owners.
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