Verigy Announces LTX-CREDENCE Merger Agreement Terminated
March 27 2011 - 5:20PM
Marketwired
Verigy Ltd. (NASDAQ: VRGY) today announced that its merger
agreement with LTX-Credence Corporation previously announced on
November 18, 2010 has been terminated. In connection with the
termination of the merger agreement, Verigy has paid LTX-Credence a
termination payment of $15.0 million.
About Verigy Verigy provides advanced
semiconductor test systems and solutions used by leading companies
worldwide in design validation, characterization, and high-volume
manufacturing test. Verigy offers scalable platforms for a wide
range of system-on-chip (SOC) test solutions, and memory test
solutions for Flash, DRAM including high-speed memories, as well as
multi-chip packages (MCP). Verigy also provides advanced analysis
tools that accelerate design debug and yield ramp processes.
Additional information about Verigy can be found at
www.verigy.com.
Responsibility Statement The Directors of
Verigy (including any who may have delegated detailed supervision
of this press release) have taken all reasonable care to ensure
that the facts stated and all opinions expressed in this press
release are fair and accurate and that no material facts have been
omitted from this press release, and they jointly and severally
accept responsibility accordingly.
Where any information has been extracted or reproduced from
published or publicly available sources (including, without
limitation, in relation to LTX-Credence), the sole responsibility
of the Directors of Verigy has been to ensure through reasonable
enquiries that such information is accurately extracted from such
sources or, as the case may be, reflected or reproduced in this
press release.
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Verigy Contacts: Judy Davies Vice President, Investor
Relations and Marketing Communications 408-864-7549 Email Contact
Matt Sherman / Jamie Moser Joele Frank, Wilkinson Brimmer Katcher
212-355-4449 Arthur Crozier / Jennifer Shotwell / Scott Winter
Innisfree M&A Incorporated 212-750-5833
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