October 29, 2001 – Boston, MA – Teradyne Inc. has completed its acquisition of GenRad Inc. of Westford, MA, following approval by GenRad shareholders and US regulatory bodies.
GenRad operations are being integrated with Teradyne’s existing Assembly Test Division, and will operate under the Teradyne name. The division, which markets a broad range of circuit board inspection and test equipment and manufacturing information and management software, will be managed by ATD president Robert M. Dutkowsky, former chairman, president, and CEO of GenRad. Products will be marketed under both the Teradyne and GenRad brand names.
George W. Chamillard, Teradyne chairman, president, and CEO stated, “The combination of Teradyne and GenRad broadens our business scope in the global circuit board inspection and test market, with significantly expanded customer reach and product line breadth. Besides further consolidating our standing as the world’s number one Automatic Test Equipment (ATE) company, we now have a much stronger position in an industry that historically has been somewhat less volatile than our semiconductor test business.”
Final regulatory approvals of the transaction in several countries are expected shortly.