Teradyne to Purchase SCPM Product Line
Giga-tronics Incorporated (Nasdaq:GIGA; San Ramon, CA), a leading provider of test and measurement equipment, on March 18 announced that it has entered into an agreement with Teradyne, Inc. (North Reading, MA) in which Giga-tronics agreed to sell to Teradyne its product line known as SCPM for approximately $1 million. The closing of the sale is expected to occur on or about April 1.
The assets that are the subject of the transaction consist of certain intellectual property and proprietary information related to the SCPM product line, remaining inventory and test equipment. Certain proprietary information also will be licensed to Teradyne for use in the SCPM business. The Company will provide training to Teradyne personnel to enable Teradyne to operate the transferred business independently.