Advantest to acquire Verigy for $1.1 billion

Verigy said earlier it had dropped a plan to buy smaller rival LTX Credence.

Advantest is strong in memory chip testers, but faces tough competition from global leader Teradyne Inc in non-memory testers for the fast-growing smartphone market.

By acquiring Verigy, Advantest could control as much as 48 per cent of the global chip-testing market, more than Teradyne's 40 percent, an analyst at brokerage MKM Partners estimated last year.

Narendra Modi or Rahul Gandhi? Who will win the battle royale of the Lok Sabha Elections 2019


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