Yokogawa and Ando Agree to Strategic Alliance in Electronic Testing
Yokogawa Electric Corporation, Tokyo, Japan, and Ando Electric Co, Ltd., signed a partnership agreement in which the two companies will collaborate on business strategies for their measurement and electronic device testing equipment. At the same time, NEC Corporation agreed to transfer 33% of Ando's issued shares to Yokogawa on February 28, 2001. NEC, aiming to maximize corporate value of the overall NEC Group by reviewing capital relationships, will sell all but 2% of its 35% holding in Ando to Yokogawa to promote business synergy. The alliance between Ando and Yokogawa will center on Ando's measurement systems for the optical communications area, together with Yokogawa's measurement instruments for the development of communications networks and multimedia communications equipment. It also covers areas both companies have been involved with, such as ATE semiconductor testing and device handling systems.