New Combined Company Provides Focused, Cost-Optimized ATE Solutions for the Wireless, Computing, Automotive, and Entertainment Markets

MILPITAS, Calif., Aug. 29, 2008 (GLOBE NEWSWIRE) -- LTX Corporation (Nasdaq:LTXX) and Credence Systems Corporation (Nasdaq:CMOS) today announced the completion of their merger, resulting in the formation of LTX-Credence Corporation, a global provider of focused, cost-optimized ATE solutions. The companies combined earlier today in a tax free, all-stock merger of equals following the approval of both companies' stockholders yesterday. Beginning Tuesday, September 2, 2008, LTX-Credence, headquartered in Milpitas, California, will trade on the NASDAQ Global Market under the new symbol "LTXC."

Under the terms of the merger agreement, Credence stockholders received 0.6129 shares of LTX-Credence common stock for each share of Credence common stock they own, causing the former stockholders of Credence to hold 50.02% of the outstanding shares of the combined company and pre-merger LTX stockholders to hold 49.98% of the outstanding shares of the combined company. As of today's market close, shares of Credence common stock will cease trading on the NASDAQ Global Market.

"I am excited to announce the completion of the merger of LTX and Credence, and I am confident that the combined strengths of the two companies will create a leading provider of focused, cost-optimized ATE solutions," noted Dave Tacelli, chief executive officer and president of LTX-Credence. "We have worked diligently to close this transaction, and have successfully completed the merger ahead of schedule. Now, with our seasoned leadership team in place, we will push forward with that same intensity as we move through the integration process and drive to rapidly deliver the advantages of the new LTX-Credence to our stockholders, our customers and our employees."

Tacelli continued, "We see significant advantages for all LTX-Credence stakeholders. We believe that the combined company's financial strength, operational efficiency and growth opportunities will allow us to deliver superior value to our stockholders. Our customers will benefit from our broad portfolio of technologies, the largest installed base in the Asia-Pacific region, and an unmatched global network of applications and support resources. The infusion of fresh ideas and approaches across our combined employee base will not only enhance the solutions we develop for our customers, but also greatly expand opportunities for growth and leadership for our employees."

LTX-Credence will provide an update on the progress of the company's integration activities during a conference call the first full week of October 2008.