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LeCroy to acquire test software company

Posted: 07 Sep 2004 ?? ?Print Version ?Bookmark and Share

Keywords:lecroy? computer access technology? bluetooth? fiber channel? infiniband?

Test instrument supplier LeCroy Corp. has signed a definitive agreement to acquire Computer Access Technology Corp. in a stock transaction valued at $81 million, plus options.

Also known as CATC, Computer Access Technology develops and markets advanced protocol analysis software for digital communications standards such as 1394, Bluetooth, Fiber Channel, InfiniBand, SCSI and USB. LeCroy expects the transaction to help capture the growing market for serial data test instruments while strengthening its position in the data storage market.

"Our acquisition of CATC advances LeCroy's two key objectivesto drive superior sustainable growth and generate significant cash from operations," said Tom Reslewic, president and chief executive of LeCroy, in a statement. "CATC's leadership in high-speed serial data protocol test solutions directly complements our strength in the serial data oscilloscope market."

Under terms of the transaction, LeCroy will acquire all of CATC's outstanding stock for $6.00 per share in cash. LeCroy will also pay additional cash to the holders of CATC's outstanding, vested stock options, thus bringing the total purchase price of the transaction to $85 million.

The transaction is expected to close before the year's end.

CATC president and chief executive Carmine Napolitano will join LeCroy's executive management team as president of the new Serial Data Solutions Division to be formed during the next sixty days. The division will include all of CATC's Santa Clara operations and key elements of LeCroy's oscilloscope business aimed at serial data test applications.

- Spencer Chin

EE Times

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