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Monday, March 28, 2011

Japan's Advantest says to purchase Verigy for $1.1 billion

Japan's Advantest Corp said on Monday it has agreed to buy U.S.-listed chip tester Verigy Ltd for about 90.9 billion yen ($1.1 billion) to bolster its position in testers for chips used in smart phones. Verigy, which has its headquarters in Singapore, said earlier this month it had dropped a plan to buy smaller rival LTX Credence . [ID:nL3E7EM022] ($1 = 81.325 Japanese Yen) (Reporting by Mariko Katsumura; Editing by Michael Watson)

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