Teradyne invests $516M for 10% of Technoprobe; sells DIS unit for $85M

TERADYNE, INC

Teradyne to acquire 10% of Technoprobe for ~$516M at €7.362/share (3-month VWAP).
Technoprobe to acquire Teradyne's Device Interface Solutions business for $85M net of cash/debt.
Teradyne gets board seat and veto rights on by-laws, related-party transactions, delisting; 3-yr lock-up.
Closing expected H1 2024 subject to CFIUS, Italian FDI, Taiwan merger control, HSR, and other conditions.
Teradyne suspends share repurchase program effective Nov 7; will update capital allocation in Jan 2024 earnings call.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TERADYNE, INC entered into Investment Agreement with Technoprobe S.p.A., T-Plus S.p.A. valued at approximately $516 million (effective 2023-11-07).

Action: entry
Counterparty: Technoprobe S.p.A., T-Plus S.p.A.
Value: approximately $516 million
Effective: 2023-11-07

Exact text from the filing

On November 7, 2023, Teradyne, Inc. (the "Company") entered into an Investment Agreement (the "Investment Agreement") with Technoprobe S.p.A. ("Technoprobe"), T-Plus S.p.A., Technoprobe's controlling shareholder ("T-Plus"), and Teradyne International Holdings, B.V., a wholly owned subsidiary of the Company (the "Investor").

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TERADYNE, INC filing history →

Source: SEC EDGAR

accession 0001193125-23-272731

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