Astronics Corporation, a leading supplier of advanced technologies and products to the global aerospace, defense, and semiconductor industries, today announced it has entered into an agreement for the sale of the intellectual property and certain assets associated with its semiconductor test business to Advantest Corporation for $185m in cash. The sale additionally includes a $30m earn-out opportunity based on achieving certain levels of revenue in 2019. Astronics will enter into an agreement with Advantest to continue to manufacture the semiconductor test solutions for Advantest upon closing of the transaction. Astronics’ will continue to operate its aerospace and defense test business and report in two segments. Peter J. Gundermann, President and CEO of Astronics, commented, “We acquired this product line in January of 2014 and it has since generated about $365 million in revenue through the third quarter this year. We have invested heavily in the technology and believe it has an exciting future. We came to the conclusion that this future will be better realized with a company that is focused on the semiconductor space. We will continue to be involved as a manufacturing partner with Advantest, which will provide continuity for our customers and employees. We look forward to continued success in the market.”