Xcerra Corporation and Hubei Xinyan Equity Investment Partnership Announce Withdrawal of CFIUS Application and Termination of...
22 Febrero 2018 - 3:30PM
Xcerra (Nasdaq:XCRA) and Hubei Xinyan Equity Investment Partnership
today announced that they have mutually agreed to withdraw their
joint voluntary filing to the Committee on Foreign Investment in
the United States (CFIUS) in relation to their proposed transaction
and have terminated their merger agreement.
“We believe that our transaction with Xinyan was in the best
interests of our shareholders, our customers, and our employees.
Despite our best efforts to secure approval, it has become evident
that CFIUS will not clear this transaction and we and Xinyan have
mutually decided to terminate our merger agreement,” said Dave
Tacelli, president and CEO of Xcerra Corporation.
“Xcerra is a strong and well-positioned company. The business
environment remains robust for all of our semiconductor test
products and bare-board flying probe test systems, and we will
continue to innovate and unlock opportunities for the business in
existing and new markets.”
“Our transaction with Xinyan was about enabling Xcerra to
accelerate its growth in the China market as well as broadening and
strengthening our customer relationships around the world. While we
are disappointed that we were not able to receive approval from
CFIUS on this transaction, Xcerra and Xinyan are discussing
alternatives to pursue opportunities in new and existing markets in
China.”
About XcerraXcerra Corporation is comprised of
four powerful brands in the semiconductor and electronics
manufacturing test markets: atg-Luther & Maelzer, Everett
Charles Technologies, LTX-Credence and Multitest. The combination
of these businesses creates a Company with a broad spectrum of
semiconductor and PCB test expertise that drive innovative new
products and services, and the ability to deliver to customers
fully integrated semiconductor test cell solutions. The
Company addresses the broad, divergent requirements of the
mobility, industrial, automotive and consumer end markets, offering
a comprehensive portfolio of solutions and technologies, and a
global network of strategically deployed applications and support
resources. Additional information can be found at
www.xcerra.com or at each product group’s website; www.atg-lm.com,
www.ectinfo.com, www.ltxc.com and www.multitest.com.
Investor Contact:
Richard Yerganian, Vice President, Investor RelationsXcerra
Corporation Tel. 781.467.5063
Email: rich.yerganian@xcerra.com
Media Contact:
Anthony Applewhaite Director Brunswick Group Tel. 202.393.7337
Email: tapplewhaite@brunswickgroup.com
Xcerra is a trademark of Xcerra Corporation. All other
trademarks are the property of their respective owners.
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