Mosaid sells certain assets of its System Division's automatic test equipment business to Teradyne for $20 million in cash. Teradyne also intends to hire the new product development team of the Systems Division. Mosaid anticipates that the transaction will close by April 2007, and will generate a pretax gain, including the impact of discontinued operations, of approximately $13 million, and net cash proceeds of approximately $16 million, reportable in the fourth quarter. The Systems Division develops and sells engineering memory ATE for the global semiconductor industry. Teradyne is purchasing the assets and intellectual property associated with a tester platform. Teradyne will also receive an exclusive license to certain patented and non-patented intellectual property associated with Mosaid's current ATE product lines, and a non-exclusive patent license for Teradyne's ATE products.