{"id":3902,"date":"2018-12-12T21:09:13","date_gmt":"2018-12-12T21:09:13","guid":{"rendered":"https:\/\/staging.asminternational.org\/edfas\/results\/-\/journal_content\/56\/10192\/36019558\/NEWS\/"},"modified":"2023-02-07T04:52:46","modified_gmt":"2023-02-07T04:52:46","slug":"astronics-sells-semiconductor-testing-business-to-advantest-for-185-million","status":"publish","type":"post","link":"https:\/\/www.asminternational.org\/edfas\/results\/-\/journal_content\/56\/10192\/36019558\/NEWS\/","title":{"rendered":"Astronics sells semiconductor testing business to Advantest for $185 million"},"content":{"rendered":"<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\">Astronics Corp., East Aurora, N.Y., announces an agreement to sell the intellectual property and certain assets associated with its semiconductor test business to Advantest Corp., Tokyo, for $185 million in cash.&nbsp; The sale includes a $30 million earn-out opportunity based on achieving certain levels of revenue in 2019. &nbsp;Upon closing, Astronics will also enter into an agreement with Advantest to continue making the products.<\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\">&nbsp;<\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\">According to Peter Gundermann, President and CEO of Astronics, \u201cWe acquired this product line in January of 2014 and it has since generated about $365 million in revenue through the third quarter this year. We have invested heavily in the technology and will continue to be involved as a manufacturing partner with Advantest.\u201d<\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\">&nbsp;<\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\">Approximately 45 personnel from Astronics, primarily in engineering, sales, and program management, will be offered positions with Advantest. The remainder of the Astronics workforce will be unaffected by the transaction. <\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\">&nbsp;<\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\">The transaction is s expected to close by the end of the year, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. <\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\">Astronics\u2019 will continue to operate its aerospace and defense test business and report in two segments. &nbsp;<\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\">&nbsp;<\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\"><a href=\"http:\/\/www.astronics.com\">www.astronics.com<\/a><\/span><\/span><\/p>\n<p style=\"margin-bottom:.0001pt\"><span style=\"line-height:normal\"><span style=\"font-size:12.0pt\"><a href=\"http:\/\/www.advantest.com\">www.advantest.com<\/a><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Astronics Corp., East Aurora, N.Y., announces an agreement to sell the intellectual property and certain assets associated with its semiconductor test business to Advantest Corp., Tokyo, for $185 million in cash.<\/p>\n","protected":false},"author":63082,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[434,435,436,1],"tags":[],"class_list":["post-3902","post","type-post","status-publish","format-standard","hentry","category-electronics","category-news","category-news-articles","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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