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LTX (Nasdaq: LTXX) is a semiconductor Automatic Test Equipment (ATE) vendor, founded in 1976 and headquartered in Norwood, MA (Greater Boston area). Annual sales for the fiscal year ending July 31, 2007, were approximately $147.6MM, and, as of that date, the company had 436 direct employees.

The present focus of the company is the design and development of ATE for the semiconductor marketplace, but it distinguished itself in the early days as a provider of functional and parametric testers for discrete component RF products. Even today, LTX retains that heritage by offering Fusion, a test platform capable of testing a mixed signal (analog & digital) device.

History

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LTX was founded by Graham Miller, Roger Blethen, et al. All of the founders left nearby competitor, Teradyne. Although never verified, corporate lore holds that the name LTX was an abbreviation for the clarion call of its founders: "Leave Teradyne by Christmas (Xmas)" or possibly "Left Teradyne at Christmas." Still others insist that LTX stands for "Linear Test eXcellence", "Linear Test eXperts", or is simply an abbreviation of the word "Electronics". LTX grew rapidly in its first decade, with customers and offices throughout the world and as many as 2,000 employees by 1985.

Acquisition of Trillium in the 1980s established LTX in the digital test market.

On June 22, 2008 LTX signed a merger agreement with one of its principal competitors: Credence Systems Corporation (Nasdaq: CMOS). LTX CEO and President David Tacelli will become CEO of merged company.

On August 29, 2008 LTX and Credence Systems Corporation complete merger to form LTX-Credence Corporation (Nasdaq: LTXC).

Competitors

LTX's principal competitors are:

• Advantest (NYSE: ATE)
• Teradyne (NYSE: TER)
• Verigy (Nasdaq: VRGY) - formerly a division of Hewlett-Packard, then Agilent Technologies

External links

• Company homepage

References

1. SEC Form 10-K, filed 10/15/07
2. Credence and LTX Sign Merger Agreement
3. LTX and Credence Complete Merger to Form LTX-Credence

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