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Article: Credence Systems to Acquire Integrated Measurement Systems in an All-Stock Transaction.
- Article from:
- PR Newswire
- Article date:
- May 16, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FREMONT, Calif. and BEAVERTON, Ore., May 16 /PRNewswire/ --
Credence Systems Corporation (Nasdaq: CMOS), a leading manufacturer of automatic test equipment (ATE) for the worldwide semiconductor industry and Integrated Measurement Systems, Inc. (Nasdaq: IMSC), a provider of high-performance integrated circuit (IC) validation systems, today announced that they have entered into a definitive agreement pursuant to which Credence would acquire IMS. The stock-for-stock transaction is valued at approximately $170 million and is expected to be immediately accretive to Credence earnings. The board of directors of each company has unanimously approved the agreement.
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