Softbridge Named as Teradyne Subsidiary, Integral to Company's Software Testing Strategy
CAMBRIDGE, MA, April 29, 1997 -- Softbridge, Inc., a leading developer of automated testing software for Fortune 1000 companies, and Teradyne Inc., the world leader in automatic test equipment, today announced that Softbridge will become a wholly-owned subsidiary of Teradyne. Together, the companies aim to be a leading force in the corporate information technology (IT) market for automated testing solutions.
The two companies, which are pioneers in their respective markets - Softbridge in client/server applications testing, and Teradyne in the automatic test equipment industry - will develop Softbridge into a larger, stronger entity in the fast growing market of client/server testing. As a wholly-owned subsidiary of Teradyne, Softbridge will continue to operate autonomously under the direction of Softbridge's existing management team, led by Drew Hannah, General Manager, and leverage Teradyne's heritage of technical innovation and market leadership.
"We were looking for a strategic partner truly committed to the testing industry, one that shares our interest in charting the course for the next generation of testing solutions," said Hannah. "Teradyne provides the right fit. With this new partnership, we'll be able to accelerate our efforts to provide solutions that address the challenges our customers will face in the years ahead."
"Teradyne is a pioneer in the automated testing market," said Alexander d'Arbeloff, Chairman and CEO, Teradyne. "Through our technological innovation, close customer relationships and corporate culture centered around Total Quality Management (TQM), we have taken a market leading position. By joining forces with Softbridge, we hope to do the same in the software testing market."
Several executives have already been named to Softbridge's new board of directors, including Alexander V. d'Arbeloff, Teradyne Chairman and Chief Executive Officer; Drew Hannah, General Manager, Softbridge; James A. Prestridge, Teradyne Vice Chairman and Executive Vice President; Owen W. Robbins, Teradyne Vice Chairman, Executive Vice President and Chief Financial Officer. Each brings a wealth of strategic business experience in the testing or software development industries, and a shared vision for Softbridge.
Softbridge will continue to focus its efforts on enhancing its automated software testing solution, which includes software and services (training, consulting, and mentoring), that fully address customers' testing needs. The cornerstone of Softbridge's product suite is Automated Testing Facility (ATF) -- a powerful software testing tool that enables novice and sophisticated users alike to easily conduct all levels of tests required for business-critical client/server applications, including complex interactions and interdependencies between users in a real-world client/server environment.
Softbridge, Inc., based in Cambridge, Massachusetts, develops and markets the only automated software testing tools built from the ground up to test the interactions of users in a real-world client/server environment. The company's products have been licensed by more than 200 large corporate customers, such as AT&T, Nations Bank, Vanguard and The Equitable. Information on Softbridge can be found on the World Wide Web at http://www.sbridge.com
Teradyne, Inc., based in Boston, Massachusetts, is a leading manufacturer of automatic test equipment and connection systems for the electronics and telecommunications industries. Its sales in 1996 were $1.2 billion and it employs more than 5,000 people worldwide. Its stock is listed on the New York Stock Exchange under the symbol TER.