Thursday, February 21, 2008

Credence Sells Group To DCG Systems

Milpitas-based Credence Systems Corporation, which develops test products for the semiconductor industry, said Thursday afternoon that it is in a definitive agreement to sell its diagnostics and characterization business to newly formed DCG Systems. The deal is worth up to $10M, including earnouts and contingent payments. DCG Systems is headed by Dr. Israel Niv, former head of Credence's Diagnostics and Characterization Group. According to Credence, it will also transfer up to $22M in assets, including component inventory, fixed assets, intangibles and various liabilities to DCG Systems.