Advantest Corporation (TSE: 6857, NYSE: ATE) is pleased to announce that all the conditions for its acquisition of Verigy (NASDAQ: VRGY), including regulatory approval and the approval of Verigy’s shareholders, have been met. Advantest has consequently completed its acquisition of all outstanding Verigy ordinary shares for US$15.00 per share in cash. The total acquisition price is approximately US$1.1 billion [approximately ¥ 90.9 billion (based on the exchange rate US$1 = ¥81)].* This amount includes the amount of the convertible notes to be repaid by Verigy Ltd.
Verigy will henceforth be operated as a wholly-owned subsidiary of Advantest. The integration process will transform the Advantest Group into the largest company in the semiconductor test equipment sector, with annual sales, based on last year’s figures, of $1.7 billion, a market share of over 40%, and 4,900 employees in 21 countries worldwide, including R&D centers in Japan, the U.S., and Europe.
Verigy’s origins in the test and measurement division of Hewlett-Packard, an American tech industry giant founded in 1939, have endowed it with a rich stock of cutting-edge solutions for semiconductor design verification and evaluation. By merging Verigy into its operations, the Advantest Group, which holds a dominant share in tools for memory test and volume production, has boosted its presence in the non-memory test and R&D markets where Verigy has traditionally been strong. Geographically, Advantest’s strong presence in Japan and Asia will now be combined with Verigy’s reach in North America and Europe, generating market share gains. The two companies’ complementary strengths in products, customer base, R&D, sales, and service will provide a significant lift to the combined company’s competitiveness in the global market.
To maximize these new synergies, Advantest has launched a new Strategic Business Unit which will take responsibility for reinforcing marketing efforts, technology integration, and offering optimal solutions to customers. Through the integration process, the new unit will devise detailed business strategies and implement them promptly.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV