Tollgrade Completes Acquisition of Broadband Test Division of Teradyne
Expands Tollgrade's Global Footprint of Broadband Network Testing
PITTSBURGH, Aug. 1 / -- Tollgrade Communications, Inc. (NASDAQ:TLGD), a leading supplier of network service assurance products for the cable and telecom industries, announced today that it has completed its acquisition of the Broadband Test Division of Teradyne, Inc. (NYSE:TER).
On May 31, 2007, Tollgrade signed an agreement to acquire substantially all the assets and to assume certain specified liabilities of Teradyne's Broadband Test Division for approximately $12 million, subject to adjustments for certain items. Tollgrade preliminarily expects that the acquisition will be accretive to GAAP earnings per share in fiscal year 2007, and could add up to $10 million to 2007 revenues.
"The addition of the Broadband Test Division from Teradyne to our portfolio significantly expands our leading market share of total metallic access lines under test by service providers around the world," said Mark B. Peterson, Tollgrade's President and Chief Executive Officer. "We will now have a more extensive international market presence with employees and offices located throughout Europe to serve the Broadband Test Division's existing customers, as well as Tollgrade's current and prospective customers who seek to roll-out triple-play networks and services more quickly and efficiently. The integration of this acquisition into Tollgrade adds volume and capability to our already strong broadband service assurance business," he added.
About Tollgrade
Tollgrade Communications, Inc. is a leading provider of network service assurance products and services for centralized test systems around the world. Tollgrade designs, engineers, markets and supports centralized test systems, test access and status monitoring products, and next generation network assurance technologies for the broadband marketplace. Tollgrade's customers range from the top RBOCs (Regional Bell Operating Companies) and Cable providers, to numerous independent telecom, cable and broadband providers around the world. Tollgrade's network testing, measurement and monitoring solutions support the infrastructure of cable and telecom companies offering current and emerging triple play services. Tollgrade, headquartered near Pittsburgh in Cheswick, Pa., and its products and customer reach span over 350 million embedded access lines, more than any other test and measurement supplier. For more information, visit Tollgrade's web site at www.tollgrade.com/ .
Source: Tollgrade Communications, Inc.
CONTACT:Bob Butter, Corporate Communications of Tollgrade Communications, Inc., +1-412-820-1347, Cell: +1-412-736-6186, bbutter@tollgrade.com
Web site: www.tollgrade.com/
