Teradyne Inc is a Massachusetts Corporation incorporated on September 23, 1960. The Company is a supplier of automatic test equipment. It designs, develops, manufactures and sells automatic test systems and solutions which are used to test semiconductors, wireless products, hard disk drives and circuit boards in the consumer electronics, automotive, computing, telecommunications, wireless, and aerospace and defense industries. Its automatic test equipment products and services include: semiconductor test systems; military/aerospace test instrumentation and systems; storage test systems, circuit-board test and inspection systems; and wireless test systems. The Company's customer base includes integrated device manufacturers, outsourced semiconductor assembly and test providers, wafer foundries, fabless companies that design, but contract with others for the manufacture of integrated circuits, developers of wireless devices and consumer electronics, manufacturers of circuit boards, automotive suppliers, wireless product manufacturers, storage device manufacturers, aerospace and military contractors. In 2013, the Company acquired ZTEC Instruments Inc., a supplier of modular wireless test instruments. This helped the Company to expand its Wireless Test Segment into the design verification test of wireless components and chipsets. In semiconductor test, the Company designs, manufactures, sells and support semiconductor test products and services. These test systems are used both for wafer level and device package testing. These chips are used in automotive, industrial, communications, consumer, and computer and electronic game applications, among others. Semiconductor test products and services are sold to integrated device manufacturers that integrate the fabrication of silicon wafers into their business, fabless companies that outsource the manufacturing of silicon wafers, foundries that cater to the processing and manufacturing of silicon wafers, and outsourced semiconductor assembly and test providers that provide test and assembly services for the final packaged devices to both fabless companies and integrated device manufacturers. In Wireless Test, the acquisition of LitePoint and ZTEC expanded the Company's product offerings in the wireless test industry. LitePoint designs, develops, and supports advanced wireless test equipment for the development and manufacturing of wireless devices, including smart phones, tablets, notebooks/laptops, personal computer peripherals, and other Wi-Fi, Bluetooth and cellular enabled devices. The LitePoint IQxstream is an optimized solution for high-speed testing of GSM, EDGE, W-CDMA, HSPA+, CDMA2000, and LTE technologies-used for calibration and verification of smartphones, tablets, and embedded cellular modules. The System Test segment is comprised of three business units: Mil/Aero, Storage Test and Commercial Board Test. In Mil/Aero, the Company's test products are used to ensure the readiness of military and commercial aerospace electronics systems. The Storage Test business unit addresses the high throughput, automated manufacturing test requirement of hard disk drive manufacturers. In Commercial Board Test, the test systems are used by electronics manufacturers to verify whether printed circuit boards are assembled correctly and are operational. The Company's sales are scattered in different geographies such as China, Taiwan, Korea, Japan and Malaysia. The Company's competitors include Advantest Corporation, LTX-Credence Corporation, Agilent Technologies, Inc., Xyratex Ltd., Agilent Technologies, Inc., Aeroflex, Inc., Anritsu Company, National Instruments Corporation and Rohde & Schwarz GmbH & Co. KG.
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