Mosaid completes $20M sale to Teradyne |
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Wed, 28 Mar 2007 18:34
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NEW YORK (AP) - Canadian memory chip technology developer Mosaid Technologies Inc. said Wednesday it completed the $20 million cash sale of its automatic test equipment business to Teradyne Inc., a supplier of test equipment for a variety of electronics.Mosaid said it will wind down its remaining automatic test equipment business by April 30, and has arranged for a new company founded by a pair of its executives to provide ongoing sales, support and service for the installed base of Mosaid's memory test systems.Shares of North Reading, Mass.-based Teradyne slipped 21 cents to $16.53 in afternoon trading on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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