NORTH READING, Mass.--(BUSINESS WIRE)--Teradyne, Inc. (NYSE:TER) announced today that it has acquired substantially all of the assets of Avionics Interface Technologies, LLC, a leading provider of equipment for testing state-of-the-art avionics data buses. The Avionics Interface Technologies (AIT) business will be operated as an independent division within Teradyne’s Defense and Aerospace business unit, and will continue to provide exceptional products to existing and new customers.
AIT offers a well-established series of testing solutions for both the commercial aerospace and defense industries, including MIL-STD-1553A/B, MIL-STD-1760E, Fibre Channel, ARINC 429, ARINC 615, ARINC 615A and ARINC 664p7. “AIT’s products complement Teradyne’s line of bus test instrumentation, allowing Teradyne to provide complete test solutions for today’s avionics systems,” said John Wood, Vice President and General Manager of Teradyne’s Defense and Aerospace business unit.
“The combination with Teradyne creates unparalleled technical expertise in databus testing, which will strengthen our products and support,” said Bill Fleissner, President and General Manager of AIT. “AIT will continue to offer our products to simulation, test and embedded applications, and combined with Teradyne, will allow us to provide more comprehensive solutions to all of the customers we serve.”
About AIT
AIT is headquartered in Omaha, Nebraska, with a
production and design center near Wright Patterson AFB in Dayton Ohio.
The company has distribution and support offices worldwide and is a
leading designer and manufacturer of high-performance test
instrumentation, flight modules, simulation modules, embedded solutions,
databus analyzers, and related support systems. For more information,
visit www.aviftech.com.
About Teradyne
Teradyne
(NYSE:TER) is a leading supplier of Automatic Test Equipment used to
test semiconductors, wireless products, data storage and complex
electronic systems which serve consumer, communications, industrial and
government customers. In 2013, Teradyne had sales of $1.43 billion and
currently employs approximately 3,800 people worldwide. For more
information, visit www.teradyne.com.
Safe Harbor Statement
This release contains forward-looking
statements regarding the transaction, Teradyne’s future financial
results, and AIT’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 AIT operates; market
acceptance of AIT’s new products; competition from larger and more
established companies in AIT’s markets; the protection of AIT’s
intellectual property; the retention of key employees; Teradyne’s
ability to successfully grow AIT’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, 2013 and Quarterly Report on Form
10-Q for the period ended June 29, 2014. The forward-looking statements
provided by 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.
