Advantest Corporation to Acquire Verigy for $15 per Share Totaling $1.1B

Advantest Corporation (NYSE: ATE) and Verigy Ltd. (NASDAQ: VRGY) today announced that they have entered into a definitive agreement under which Advantest will acquire all outstanding Verigy ordinary shares for US$15.00 per share in cash. The total acquisition price will be approximately US$1.1 billion (approximately ¥ 90.9 billion (based on the exchange rate US$1 = ¥ 81)). Advantest's $15.00 per share cash offer represents a premium of approximately 64 percent to Verigy's closing stock price on December 3, 2010, the day prior to Verigy's announcement that it had received an offer from Advantest.