Teradyne Acquires LitePoint Corporation

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Teradyne announced it has signed a definitive agreement to purchase privately held LitePoint Corporation, a provider of production line test equipment for wireless products, including smart phones, tablets and WiFi-enabled PCs, for $510 million net of LitePoint cash and tax benefits, plus $70 million if certain performance targets are met. The acquisition has been approved by the Board of Directors of each company and is expected to close in the fourth quarter of 2011 subject to customary closing conditions and regulatory approvals.