Astronics agrees to sale of semiconductor system level test technology for USD 185m

Astronics Corporation (Nasdaq: ATRO) has announced it has entered into an agreement to sell sale intellectual property and certain assets associated with its semiconductor test business to Advantest Corporation (TSE: 6857) for USD 185 million in cash, the company said.

The sale additionally includes a USD 30 million earn-out opportunity based on achieving certain levels of revenue in 2019.

Astronics will enter into an agreement with Advantest to continue to manufacture the semiconductor test solutions for Advantest upon closing of the transaction.

Astronics Corporation (Nasdaq: ATRO) is a leading supplier of advanced technologies and products to the global aerospace, defense and semiconductor industries.