DOW JONES NEWSWIRES
Teradyne Inc. (NYSE:TER) (TER) signed a definitive agreement to acquire Nextest Systems Corp. (NASDAQ-NMS:NEXT) (NEXT), a San Jose flash memory test company, for about $325 million, or $ 20 a share, in cash.
The price represents a premium of about 67% over Nextest's closing price Tuesday of $11.99.
Teradyne (NYSE:TER) , a North Reading, Mass., electronics test equipment company, expects the acquisition to reduce its 2008 earnings per share and slightly add to 2008 non-GAAP earnings per share after excluding the purchase accounting impacts.
Teradyne (NYSE:TER) expects the deal to close in the first quarter.
The company said Nextest will run as a business unit within Teradyne's (NYSE:TER) Semiconductor Test Division.
-Shara Tibken; 201-938-5400, AskNewswires@dowjones.com
(END) Dow Jones Newswires 12-12-07 0742 Copyright (c) 2007 Dow Jones & Company, Inc.
