Credence Selects MVTS to Deliver Ongoing Support for Legacy Product Lines
MILPITAS, CA, Aug. 18, 2008
Credence Systems (NASDAQ: CMOS), a provider of test solutions for the worldwide consumer semiconductor industry, has entered into an exclusive agreement with MVTS Technologies, a global provider of support for legacy ATE, to offer support for seven Credence legacy products including Vista, Duo, Quartet, Octet, SC, Kalos, and EXA.
In addition to purchasing exclusive rights to these Credence legacy products, MVTS will hire trained field support personnel, acquire Credence legacy inventory, and assume repair services. As a result of this agreement, Credence customers will benefit from extended support for end-of-life products as well as the focus and commitment of an experienced legacy support provider.
Lavi Lev, president and CEO of Credence, said, "This agreement demonstrates our continued commitment to provide the best possible support for our customers. MVTS has a demonstrated track record of providing excellent service in the ATE industry. At the same time, it enables us to continue to implement efficient cost-savings measures while we remain focused on our current product strategy."
Ron Maassen, CEO of MVTS, said, "This alliance with Credence is fundamental to expanding the product and services portfolio of MVTS. Our focus is on responding to the needs of legacy ATE users, and this agreement will augment our existing infrastructure and expand our market opportunities."
Now through Dec. 31, 2008, Credence has entered into a transitional partnership period with MVTS during which all customer support continues as usual, and MVTS will employ field support personnel and initiate product repairs. Effective Jan. 1, 2009, customers will receive support directly from MVTS.
About Credence
Credence Systems, a global provider of ATE solutions to the high-growth, consumer semiconductor industry, is an ISO 9001-certified company with a presence in 20 countries. It is headquartered in Milpitas, CA. More information is available at
www.credence.com.
About MVTS
MVTS Technologies is a provider of value-added refurbished ATE, tester upgrades, spare parts, and services to the semiconductor industry. MVTS also provides outsource support and services to the ATE OEMs. Founded in 1994, MVTS is a global organization with a presence in 13 countries and headquarters in Carlsbad, CA. More information is available at
www.mvts.com .