The Tool Desk
Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →On July 17, 2001, Schlumberger sold the assets of its Automated Systems division to Cohu Inc. for $14.2 million in cash. Cohu planned to transfer the assets to its Delta Design subsidiary and operate them as Delta Design Columbus. Schlumberger described the transaction as the first step in divesting its automatic test equipment (ATE) business.
What Schlumberger sold and who bought it
The sale covered assets of Schlumberger’s Automated Systems division, whose operations were located near Columbus, Ohio. The division made integrated-circuit (IC) thermal conditioning systems, pick-and-place handlers and other automated systems. Cohu said its Delta Design subsidiary would take over the assets under the name Delta Design Columbus. EE Times reported the transaction on July 17, 2001.
Why the sale mattered to Schlumberger’s ATE business
Schlumberger had announced in February 2001 that it was seeking to sell its ATE business and focus more on core activities. After seeking a buyer for the business as a whole, it decided to sell parts of the subsidiary. The Automated Systems sale was presented as the first step in divesting its semiconductor test business.
At the time, Semiconductor Solutions also included metrology, probe systems, telecommunications ATE, test systems, verification and yield-enhancement systems. Schlumberger did not disclose the status of those other units, so the 2001 announcement does not establish that they were sold as part of the Cohu transaction.
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How the 2001 sale differs from the later NPTest divestiture
Schlumberger’s SEC-filed 2003 Form 10-K records a separate transaction: in July 2003, the company divested its NPTest semiconductor testing business to a partnership led by Francisco Partners and Shah Management for $220 million in cash. The filing also describes a contingent-payment provision tied to specified later disposition or IPO circumstances. The 2003 filing documents the NPTest sale; it does not identify that business as the Automated Systems assets sold to Cohu in 2001.
| Transaction | Business or assets | Buyer | Reported consideration |
|---|---|---|---|
| July 2001 | Automated Systems division assets | Cohu Inc.; transfer to its Delta Design subsidiary as Delta Design Columbus | $14.2 million in cash |
| July 2003 | NPTest semiconductor testing business | Partnership led by Francisco Partners and Shah Management | $220 million in cash, plus a contingent-payment provision under specified circumstances |
What the available records do not establish
The contemporaneous transaction report and the later SEC filing distinguish the two sales, but they do not establish what ultimately happened to the Automated Systems assets after their stated transfer to Delta Design Columbus. They also do not establish whether those assets remain available as a current product line.
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