Mosaid completes sale of ATE business

intellectual property licenser Mosaid Technologies finalizes the $20-million sale of its systems division’s automatic test equipment (ATE) business to Massachussetts-based Teradyne Inc. Mosaid in February announced plans to sell the business in order to focus on its key intellectual property and patents business, plans that included halving its workforce of 116. The company has also engaged spinoff EPM Test Inc. to provide ongoing sales support and service for existing purchase orders in its systems division. EPM was founded by Altaf Padamshi, Mosaid’s director of customer technical support, and Robert Evans, vice-president of sales in Mosaid’s systems division.

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