Press release from Business Wire
LitePoint Acquires ZTEC Instruments
<p class='bwalignc'> Expanding Market Focus to include Design Verification Testing </p>
Tuesday, October 29, 2013
LitePoint Acquires ZTEC Instruments07:00 EDT Tuesday, October 29, 2013
SUNNYVALE, Calif. (Business Wire) -- LitePoint, a leading provider of wireless test solutions, announced today that it has completed the acquisition of privately-held ZTEC Instruments, a manufacturer of innovative modular wireless test products, located in Albuquerque, New Mexico and Orlando, Florida.
“Our goal is always to provide the right test solution for the job being done,” said Brad Robbins, COO of LitePoint. “LitePoint provides innovative solutions designed for testing wireless devices in manufacturing. ZTEC's cutting-edge solutions are uniquely designed for testing wireless devices at the design verification stage, in a flexible PXI form factor. Combining that technology with LitePoint's powerful modulation software enables us to provide the wireless industry a peerless solution for design verification testing of components and chipsets. This also enables easy correlation from design verification to high-volume production testing – something that has increasing importance as device makers are tasked with producing in larger volumes and at faster speeds than ever before.”
Chris Ziomek, founder and CEO of ZTEC added, “Wireless chipset suppliers use our flexible PXI-based platform for high-performance RF design verification testing. Combined with LitePoint's systems, our complete, end-to-end solution will shorten the time-to-market for today's most innovative and market-leading wireless products.”
“In the aerospace and defense market, ZTEC's proven, high-performance instruments are a natural fit with Teradyne's global Systems Test business,” said John Wood, General Manager for the business. “By combining ZTEC's instruments with Teradyne's Core System Instruments, we will deliver a highly integrated solution for testing of today's complex aerospace and defense systems.”
LitePoint, a wholly owned subsidiary of Teradyne, Inc. (NYSE:TER), is based in Sunnyvale, California. The company designs, develops and supports advanced wireless test solutions for developers of wireless devices and consumer electronics, contract manufacturers and wireless integrated circuit designers. LitePoint solutions have enabled optimization and verification of the operation of more than two billion wireless devices worldwide. LitePoint products are used in development and high-volume manufacturing, providing its customers with improved ROI, time-to-market, manufacturing yields, and product quality. For more, go to www.litepoint.com.
Safe Harbor Statement
This release contains forward-looking statements regarding the transaction, LitePoint's and Teradyne's future financial results and ZTEC's future business prospects and market conditions. Such statements are based on the current assumptions and expectations of Teradyne's management and are neither promises nor guarantees of future performance. You can identify these forward-looking statements based on the context of the statements and by the fact that they use words such as “will,” “anticipate,” “expect,” “project,” “intend,” “plan,” “believe,” “target” and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. There can be no assurance that these forward looking statements will be achieved. Important factors that could cause actual results to differ materially from those presently expected include: conditions affecting the markets in which ZTEC operates; market acceptance of ZTEC's new products; competition from larger and more established companies in ZTEC's markets; the protection of ZTEC's intellectual property; the retention of key employees; Teradyne's ability to successfully grow ZTEC's business; and other events, factors and risks disclosed in filings with the SEC, including, but not limited to, the “Risk Factors” section of Teradyne's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and Quarterly Report on Form 10-Q for the period ended June 30, 2013. The forward-looking statements provided by LitePoint and Teradyne in this press release represent management's views as of the date of this release. Teradyne anticipates that subsequent events and developments may cause management's views to change. However, while Teradyne may elect to update these forward-looking statements at some point in the future, Teradyne specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Teradyne's views as of any date subsequent to the date of this release.
Brad Poston, 1 408-456-5000
V.P. Marketing Communications
Andrew Blanchard, 1 978-370-2425
V.P. Corporate Communications