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Credence sells german operations to Advantest 17-06-08

Credence Systems, a provider of test solutions for the consumer semiconductor industry, has entered into a definitive agreement to sell its operations in Amerang, Germany, Credence Systems GmbH, to Advantest Corporation. Advantest will purchase the operation for US$5.0 million. In connection with the transaction, employees, manufacturing and key infrastructure will remain in Amerang but be owned by Advantest, who will take control of the operations' assets, including inventories, spares, plant property and equipment, and associated liabilities. Advantest, through the purchase of Credence Systems GmbH, will also assume all of Credence Systems GmbH's contractual obligations with automotive customers including those obligations in connection with the Credence Falcon, Piranha and other legacy automotive product lines. The transaction is anticipated to close on or before August 31st, 2008.

 
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