Jan. 2, 2003 – Fremont, CA – Credence Systems Corp., a provider of solutions from design-to-production test, has acquired all of the assets of SZ Testsysteme AG and SZ Testsysteme GmbH from the Klaus Christian Penner family for a total of approximately $4.7 million.
Under the terms of the acquisition, Credence now owns SZ Testsysteme’s portfolio of automatic test equipment (ATE), which is primarily focused on the advanced analog, power, automotive, and communications markets.
The Credence-SZ business will operate as a division of Credence and will continue to develop, manufacture, and support the test systems from a facility located in Amerang, Germany. Credence will also integrate all sales, service, and applications support into its worldwide distribution network to provide SZ customers with a high level of ongoing customer satisfaction.
The automotive semiconductor market generated revenues totaling over $13 billion in 2002, with total market revenues forecasted to reach $21 billion by 2006 according to Gartner Dataquest.