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Giga-tronics Inc Announces Sale of SCPM Product Line to Teradyne Inc for Approximately $1,000,000

Monday, 18 Mar 2013 07:00pm EDT 

Giga-tronics Inc announced that it has entered into an Asset Purchase Agreement with Teradyne Inc, of North Reading, Massachusetts, pursuant to which it agreed to sell to Teradyne its product line known as SCPM for approximately $1,000,000. The closing of the sale is expected to occur on or about April 1, 2013. The assets that are the subject of the transaction consist of certain intellectual property and information related to the SCPM product line, remaining inventory and test equipment. Certain information also used by Giga-tronics in its non-SCPM business will be licensed to Teradyne for use in the SCPM business. Giga-tronics will provide training to Teradyne personnel to enable Teradyne to operate the transferred business independently. 

Company Quote

-0.01 -0.56%
12:46pm EST