Tokyo-based Advantest is acquiring California-based microchip testing equipment maker, Verigy, for $900 million, The Wall Street Journal reports. The move comes after the U.S. company called off its plans to acquire LTX-Credence. Verigy valued the deal, as per which LTX shareholders would have got 0.96 a share for each LTX share, at about $438 million, adds The Associated Press. Verigy considers the Advantest offer to be better and changed its recommendation to shareholders about its in-place deal to buy LTX-Credence.
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