Tollgrade Communications Inc. today announced that it has reached a definitive agreement to acquire the assets of t...
June 4, 2007
Tollgrade Communications Inc. today announced that it has reached a definitive agreement to acquire the assets of the broadband test division of Teradyne Inc.
The company will acquire all the assets of this business for US$12 million in cash, plus the assumption of specified liabilities, subject to adjustment for certain items.
Completion of the acquisition, which is subject to customary closing conditions, is expected to occur in the third quarter.
“In February 2006, we acquired the test system business unit of Emerson Network Power, Energy Systems, North America Inc., growing our telephony embedded base by approximately 25%,” said Mark Peterson, Tollgrades president and CEO.
“This acquisition will further expand that embedded base bringing our total worldwide metallic access lines under test to 350 million.”
Tollgrade expects to integrate these product lines and the key people who support them into its operations at its home base near Pittsburgh, Pa. in addition to maintaining international field offices required to service customers.