Astronics has agreed to sell its semiconductor test business to Advantest Corp. for $185 million, but will continue to manufacture the technology for Advantest, which is headquartered in Japan.
Astronics, an East Aurora aerospace equipment maker, acquired the product line in 2014, and it has since generated about $365 million in revenue through the company's third quarter, said Peter Gundermann, president and CEO.
"We have invested heavily in the technology and believe it has an exciting future," Gundermann said. "We came to the conclusion that this future will be better realized with a company that is focused on the semiconductor space.
The agreement includes a $30 million earn-out opportunity, based on achieving certain revenue levels next year.
About 45 Astronics employees, primarily in engineering, sales and program management, will be offered jobs with Advantest. The test systems business has locations in California and Florida.