By Sarina Isaacs
Shares of Teradyne plunged after the company said it inked a deal to buy photonic-integrated-circuit testing company Quantifi Photonics.
The stock was down about 19% to $85.54 in mid-morning trading. Shares are now down over 30% since the start of the year.
Teradyne, which makes automated test equipment and advanced robotics systems, agreed to acquire privately held Quantifi Photonics. Terms of the transaction weren't disclosed.
The North Reading, Mass.-based company said the acquisition would allow it to deliver scalable photonic-IC testing technology to enable support of AI workloads in the high-performance computer market.
"The extraordinary growth and complexity driven by Cloud AI will require optical interconnect solutions to support the bandwidth and reduce the power required for next-generation networks," said Teradyne Chief Executive Greg Smith.
The deal is expected to close in the second quarter.
Write to Sarina Isaacs at sarina.isaacs@wsj.com
(END) Dow Jones Newswires
March 11, 2025 10:40 ET (14:40 GMT)
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