Thursday, September 15, 2011

LitePoint Acquired By Teradyne

Sunnyvale-based LitePoint, a developer of test equipment for the wireless market, has been acquired by Teradyne, in a deal worth $580M. According to Teradyne, it will pay $510M net of cash, plus up to $70M in earn out, for LitePoint, whose products are used for testing smartphones, tablets, and Wi-Fi enabled PCs. Teradyne said LitePoint had sales of $86M in 2010, and projects sales of $125-$135M in 2011. LitePoint was venture backed by Sequoia Capital and Third Point Ventures, among others.