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| For Immediate Release |
Contact: Jeremy Milner
401-862-9422
jeremy@jeremymilner.com
Jill Burnie
617-375-4217
jill.burnie@morgankeegan.com |
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Morgan Keegan Advises Teradyne in Divestiture of Diagnostic Solutions Unit to SPX Corporation
Morgan Keegan is pleased to announce that Teradyne has agreed to sell its Diagnostics Solutions unit to SPX Corporation. Teradyne Diagnostics Solutions, based in Manchester, England, is a leading global supplier of diagnostic solutions for transportation original equipment manufacturers (OEMs) and automotive dealerships. Following the close of the acquisition, TDS will become part of SPX Service Solutions within SPX's Test and Measurement segment. SPX Service Solutions provides a wide range of products and services including brand-specific specialty tools, diagnostic equipment and integrated service, technical and training information for OEMs, dealership networks and aftermarket suppliers.
"We're pleased to enter an agreement which will connect Diagnostic Solutions to a leader in the automotive test market where their technology and customer base can be further leveraged," said Mike Bradley, Teradyne President and CEO.
About Teradyne
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Teradyne (NYSE:TER) is a leading supplier of Automatic Test Equipment. The company's divisions, Assembly Test, Semiconductor Test, and Vehicle Diagnostic Solutions, are organized by the products they develop and deliver. In 2007, Teradyne had sales of $1.1 billion, and currently employs about 3,600 people worldwide. Teradyne is a trademark of Teradyne, Inc. in the US and other countries.
About SPX Corporation
SPX Corporation is composed of several businesses that serve three primary end markets: global infrastructure, with an emphasis on power and energy; diagnostic tools, primarily serving the vehicle service industry; and process equipment, focused largely on food, beverage, dairy and other sanitary applications. The Company was founded in 1911 and is based in North Carolina.
About Morgan Keegan
Morgan Keegan, a full-service brokerage and investment banking firm, has more than 4,100 employees in 300 offices across the country. The firm’s Investment Banking division provides comprehensive merger and acquisition advisory, public equity and private capital services to public and private middle-market companies as well as private equity groups. Industry sectors include:
- Transportation & Logistics
- Industrial
- Consumer
- Energy
- Security & Defense
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- Financial Services
- Healthcare
- Technology
- Real Estate
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