inTEST Corporation (inTEST) is a global supplier of innovative test and process technology solutions for use in manufacturing and testing across a wide range of markets, including semiconductors, industrial, automotive, life sciences, defense/aerospace, and security.
Strategy
The company is committed to becoming recognized as a leader in its targeted markets for engineering and manufacturing capabilities that help solve the company’s customers’ most complex challenges in their manufacturing an...
inTEST Corporation (inTEST) is a global supplier of innovative test and process technology solutions for use in manufacturing and testing across a wide range of markets, including semiconductors, industrial, automotive, life sciences, defense/aerospace, and security.
Strategy
The company is committed to becoming recognized as a leader in its targeted markets for engineering and manufacturing capabilities that help solve the company’s customers’ most complex challenges in their manufacturing and quality processes. The company’s products provide highly engineered, high quality and cost-effective test and process technology solutions which are delivered with a customer focus that are intended to drive a high level of customer satisfaction. The company’s strategy is to consistently expand the company’s unique and differentiated test and process technology solutions through innovative new product development and acquisitions. The company expects to expand its portfolio of products, services, and support to drive increased value to the company’s customers to drive revenue and earnings growth.
The company’s strategies include global and market expansion; innovation and differentiation; service and support; and strategic acquisitions & partnerships.
Markets
Overview
The company is focused on specific target markets which include semi, industrial, automotive/EV, life sciences, defense/aerospace, security and other. The company’s largest market is semi. Products and equipment sold into semi are generally delineated as being part of either specialized wafer manufacturing (‘front-end’) or semiconductor ATE (‘back-end’). The roots of inTEST’s engineered product history are in the back-end of semi in integrated circuit (‘IC’) testing.
Semi Market
The semi market includes both the broader semiconductor manufacturing industry, as well as the front-end and back-end sectors within the broader semiconductor market. With the company’s induction heating products, the company serves the front-end of the semiconductor manufacturing process, including SiC crystal growth and epitaxial reactors. A variety of the company’s electronic test and environmental technologies segments’ products are used in the back-end of the semiconductor manufacturing process, which includes the testing of ICs.
Other Markets
The company provides a variety of solutions to its industrial, automotive, life sciences, defense/aerospace, security and other markets.
The industrial market is the broadest, most diverse area the company serves with a majority of its products serving a variety of applications. Applications for the company’s induction heating products include annealing, bonding, brazing, curing, forging, heat treating, melting and shrink-fitting. Applications for the company’s thermal test and process products include pressure-sensor testing, printed circuit board testing and cold-trap cooling for industrial processes.
In the automotive market, the company provides solutions that help in the quality and productivity of both internal combustion and EV manufacturing and onboard electronics. The company’s EV solutions include, but are not limited to, induction heating solutions for motor manufacturing, automated test equipment for battery cells, and industrial process chillers and thermal test chambers for inverter and battery testing and automated test solutions for automotive infotainment systems in both production and quality control. The company’s automotive electronics testing solutions include functional test platforms that address a broad range of test requirements, from wireless communication telematics through automotive infotainment, computer control units and touch displays and instrument clusters.
In the life sciences industry, the company provides image capture products, electronic test systems and heating systems for medical device manufacturing and equipment for critical applications within the medical cold chain for pharmaceuticals.
In the defense/aerospace industry, the company provides ATE to prime and subcontract manufacturers to ensure quality control is maintained while also providing quicker, more accurate test times of electronic circuit boards. The company also provides solutions for thermal testing of equipment to ensure it will function over the specified temperature range. This market is growing, in part, due to recent global instability.
In the security industry, the company’s image capture and data management technologies are used in a broad variety of applications primarily related to safety and monitoring.
Solutions
The company focuses its development efforts on designing and producing high quality products and highly-engineered solutions that deliver superior performance and cost-effectiveness for the company’s customers. The company seeks to address each manufacturer’s individual needs through innovative and customized designs, use of the best materials available, quality manufacturing practices and personalized service. The company designs solutions to overcome the evolving challenges facing the semi market and other markets that the company serves, which provide the following advantages:
Temperature-Controlled Testing. The company’s ThermoStream products are used by manufacturers in a number of markets to stress test a variety of semiconductor and electronic components, printed circuit boards and sub-assemblies. Factors motivating manufacturers to use temperature testing include design characterization, failure analysis and quality control, as well as determining performance under extreme operating temperatures, all of which contribute to manufacturing cost savings. The company’s thermal platforms and temperature chambers, sold under the company’s Sigma Systems product line, can accommodate large thermal masses and are found in both laboratory and production environments. Thermonics’ products provide a range of precision temperature forcing systems and have been melded into Temptronic’s ATS ThermoStream product line. The Thermonics brand is now used to market a family of process chillers for test and industrial applications.
Induction Heating. The company’s induction heating products are used in process applications where precision-controlled heating is needed. Customers use the company’s induction heating products in conjunction with other technologies in various manufacturing environments to improve production efficiencies and reduce or eliminate greenhouse gas emissions. Applications for the company’s EKOHEAT or EASYHEAT induction heating products include annealing, bonding, brazing, curing, forging, heat treating, melting, shrink-fitting, crystal growing, semi-wafer heating and material testing.
Digital Streaming and Image Capturing Solutions. Videology offers industrial-grade circuit board mounted digital imaging solutions, Zoom Block cameras and complete image capture systems. Videology also offers OEMs imaging solutions designed to the customers’ specifications and that can interface with the customers’ software.
Scalable, Universal, High Performance ATE Integration Solutions. The company’s universal test head manipulators provide a high degree of positioning flexibility with a minimum amount of effort. As a result, the company’s products can be used in virtually any test setting. The company’s manipulator products are designed to accommodate the increased size of test heads and can now support test heads weighing up to 1200kg. The company’s docking hardware products offer precise control over the connection to test sockets, probing assemblies and interface boards, reducing downtime and minimizing costly damage to fragile components. The company’s newest manipulator and docking hardware designs offer automated capabilities that allow for reduced downtime and increased productivity through predictable and repeatable production setup with reduced risk of operator error. The company’s tester interface products optimize the integrity of the signals transmitted between the test head and the device under test by being virtually transparent to the test signals, which results in increased accuracy of the test data and may thus enable improved test yields. The company’s interface product offerings have recently been expanded to serve the growing market for testing higher powered devices. A hallmark of the company’s semi market product offerings has been, and continues to be, compatibility with a wide variety of ATE. The company’s manipulator and docking hardware products are all designed to be used with otherwise incompatible ATE. This integrated approach to ATE facilitates smooth changeover from one tester to another, longer lives for interface components, better test results, increased ATE utilization and lower overall test costs.
Robotics-Based Electronic Production Test Equipment. Acculogic adds to the company’s electronic test platform offerings beyond those which exclusively serve the semi market. Acculogic designs and manufactures robotics-based electronic production test equipment and provides application support services which are sold to electronic manufacturers, including OEM and contract electronic manufacturers, as well as battery manufacturers.
Functional Test Equipment for Automotive, Life Sciences and Specialty Consumer Electronics Markets. Alfamation designs, builds, and supports a wide range of products, from individual functional test modules to fully automated systems for production quality control and product development. In automotive electronics, these systems are sold to Tier One manufacturers, whose products are delivered to car manufacturers (OEMs).
Worldwide Customer Service and Support. The company has long recognized the need to maintain a physical presence near the company’s customers’ facilities. At December 31, 2024, the company had manufacturing facilities in the U.S. in Massachusetts, New Jersey, and New York, as well as outside the U.S. in Canada, Germany, Italy and the Netherlands. The company provided service to its customers from sales and service personnel based in the U.S., Europe and Asia. The company’s engineers are easily accessible to, and can work directly with, most of the company’s customers from the time the company begin developing its initial proposal, through the delivery, installation and use of the product by the company’s customer. In this way, the company is able to develop and maintain close relationships with the company’s customers.
As noted above, the company has a facility in Penang, Malaysia which supports applications engineering, product development and localized manufacturing for nearly all inTEST brands. It serves as the main location in the region for customer product demonstrations, customer service and applications training. This facility began engineering and supply chain operations in the third quarter of 2024 and is expected to begin manufacturing and support operations by the third quarter of 2025.
Segments
The company has three operating segments, which are also its reportable segments and reporting units: Electronic Test, Environmental Technologies and Process Technologies.
The company’s Electronic Test segment consists of (i) inTEST EMS which has operations in New Jersey and California, and (ii) Acculogic, which has operations in Canada, California and Germany and (iii) Alfamation S.p.A., which has operations in Italy and China. Semiconductor manufacturers use the company’s inTEST EMS solutions in back-end testing where the company’s mechanical and electrical products serve production testing of wafers and specialized packaged ICs. These ICs include microprocessors, digital signal processing chips, mixed signal devices, micro-electro-mechanical systems (‘MEMS’), application specific ICs and specialized memory ICs, and are used primarily in the automotive, consumer electronics, industrial, and mobile communication markets. The company’s products are a combination of standard designs based on industry requirements and those designed specifically to meet a customer’s particular combination of ATE. Acculogic’s product offerings include robotics-based electronic test equipment and application support services used primarily in defense/aerospace, automotive, battery, life sciences and electronic manufacturing services industries. Alfamation’s product offerings include functional test equipment for production quality control and product development.
The company’s Environmental Technologies segment consists of inTEST Thermal Solutions (‘iTS’), which manufactures and sells products under the Temptronic, Sigma, Thermonics and North Sciences brand names and has operations in Massachusetts, Germany and Singapore. Customers use the thermal solutions produced by iTS for product development, characterization and production test. This segment also offers ultra-cold storage solutions for the life sciences cold chain market. The company’s Environmental Technologies segment provides these solutions across an array of markets, including automotive, defense/aerospace, industrial, life sciences and semiconductor.
The company’s Process Technologies segment consists of (i) Ambrell which has operations in New York, the Netherlands and the U.K.; and (ii) Videology, which has operations in Massachusetts and the Netherlands. Ambrell provides customers with induction heating solutions for a wide variety of manufacturing processes. Videology is a designer, developer and manufacturer of digital streaming and image capturing solutions. The company’s Process Technologies segment provides these solutions across an array of markets including automotive, defense/aerospace, industrial, life sciences, security and semiconductor.
On February 25, 2025, the company notified employees of the company’s wholly-owned subsidiary, Videology Imaging Corporation, of the company’s intention to consolidate all operations in the Netherlands into the company’s facility located in Mansfield, Massachusetts. This plan would result in the closure of the Netherlands facility and the termination of certain employees at that location. The consolidation of the Netherlands operations is being undertaken to increase efficiencies. The consolidation is expected to be substantially completed by the end of 2025 at which point the company intends to fully vacate the Netherlands facility.
Electronic Test Products
Manipulator Products. The company provides a range of manipulators, including the Cobal and the LS Series, to accommodate the unique testing needs and test head weights ranging from 115kg to 1,200kg. The company’s manipulator line includes hinge, universal and probe only manipulators to hold a variety of test heads, enabling operators to easily reposition them for use with any of several probers or handlers on a test floor.
The company’s manipulator products incorporate a balanced floating-head design. This design permits a test head weighing up to 1,200kg to be held in an effectively weightless state, so it can be moved manually or with optional powered assistance, up or down, right or left, forward or backward and rotated around each axis (known as six degrees of motion freedom) by an operator using a modest amount of force or with a computer controlled pendant. The same design features enable the operator to dock the test head without causing inadvertent damage to the fragile electrical contacts. As a result, after testing a particular production lot of ICs, the operator can quickly and easily disconnect a test head that is held in an inTEST manipulator and equipped with the company’s docking hardware and dock it to another electronic device handler for testing either a subsequent lot of the same packaged ICs or to test different ICs. With the LS Series manipulators, the undocking, movement of the test head and redocking can be done automatically through the computer-controlled pendant. The company’s manipulator products generally range in price from approximately $12 thousand to $100 thousand.
Docking Hardware Products. The company offers three lines of docking hardware products: fixed manual docking, AERODOCK and INTELLIDOCK pin and cup docking. All of the company’s docking hardware products protect the delicate interface contacts and ensure proper repeatable and precise alignment between the test head’s interface board and the prober’s probing assembly or the handler’s test socket as they are brought together, or ‘docked.’ Fixed manual docking includes a mechanical cam mechanism to dock and lock the test head to the prober or handler. AERODOCK is a new design in the company’s docking hardware product line, bringing to market a cost-effective, pneumatically driven, active docking system. INTELLIDOCK is an automated docking solution that provides operator feedback for each docking step via a touchscreen display, and when coupled with the LS Series manipulator, redeployment of the test head can be done automatically and accurately via the computer pendant. All of the company’s docking hardware products eliminate motion of the test head relative to the prober or handler once docked. This minimizes deterioration of the interface boards, test sockets and probing assemblies that is caused by constant vibration during testing. The company’s docking hardware products are used primarily with floating-head universal manipulators when maximum mobility and interchangeability of handlers and probers between test heads is required. By using the company’s docking hardware products, semiconductor manufacturers can achieve cost savings through improved ATE utilization, improved accuracy and integrity of test results, optimized floor support and reduced repairs and replacements of expensive ATE interface products.
The company’s docking hardware products offer its customers the ability to make various competing brands of test heads compatible with various brands of probers and handlers by only changing interface boards (‘plug-compatibility’). Plug-compatibility enables increased flexibility and utilization of test heads, probers and handlers purchased from various ATE manufacturers. Because the company does not compete with ATE manufacturers in the sale of probers, handlers or testers, ATE manufacturers are willing to provide the company with the information that is integral to the design of plug-compatible products.
Interface Products. The company’s tester interface products provide the electrical connections between the tester and the wafer prober or IC handler to carry the electrical signals between the tester and the probe card on the prober or the test socket on the handler. The company’s designs optimize the integrity of the transmitted signal. Therefore, the company’s tester interfaces can be used with high speed, high frequency, digital or mixed signal testers used in testing more complex ICs. Because the company’s tester interface products enable the tester to provide more reliable yield data, the company’s interfaces may also reduce IC production costs. The company designs standard and modular interface products to address most possible tester/prober combinations on the market today. In addition, the company provides a custom design service that will allow any of the company’s customers to use virtually any tester, prober or handler combination with any type of device, such as analog, digital, mixed signal and radio frequency. For example, the company’s Centaur modular interface is designed to provide flexibility and scalability through the use of replaceable signal modules which can be easily changed on the test floor as the company’s customers’ testing requirements change. In addition to the Centaur modular interface, the company also offers over 200 different types of tester interface models that the company custom designed for its customers’ specific applications.
Acculogic Scorpion Flying Probe Test Systems. Acculogic designs and manufactures robotics-based electronic test equipment and provides application support services for OEMs, contract electronic manufacturers and battery manufacturers. These systems are used to structurally test an electronic device, including printed circuit board assembly (‘PCBA’) and battery interconnect test. Structural testing provides confirmation that the device was manufactured properly by confirming circuits are functioning properly. In addition to testing of the basic circuitry of a PCBA, the company’s Acculogic solutions can integrate various functional testing capabilities such as boundary scan and radio frequency measurement to confirm that the device will perform the functions for which it is designed. Acculogic’s Scorpion Flying Probe system can be quickly programmed to test almost any printed circuit board. This programming is done with computer-aided design or design data of the device to be tested. Traditional in-circuit testing systems require a dedicated fixture for each board to be tested. Acculogic’s Flying Probe system can test a virtually unlimited number of boards without any hardware modifications.
Using the flying probe configuration, The STINGRAY Battery Tester employs a set of test heads to measure the electrical resistance of each bond in the battery array. By utilizing the four-wire technique, the tester can perform electrical tests on low-resistance interconnects, even as low as 200uO. Each test is completed within milliseconds, ensuring rapid testing of each battery array. The STINGRAY was the first to market a non-contact probe module in 2024. Using advanced magnetic field measurement techniques to assess the interconnect quality without physical contact, this allows for accurate and complete test coverage for both laser-welded and wire bonded interconnects.
Acculogic BRiZ Automated Test and Programming Services: BRiZ is an automated test platform that can consolidate any variety of circuit board test and programming into a single, compact, low-cost test station.
Alfamation Hyperion Functional Test Platform: Hyperion is an automated Test Platform for PCBA & Assembly level testing, modular and configurable to quickly fit different customer applications. It addresses End-of-Line testing of a broad range of devices, from wireless communication telematics through automotive infotainment and computer control units.
Alfamation Pixelshooter Touch Display Tester: Pixelshooter is comprehensive and scalable solution for electrical and optical testing of touch displays, including automotive instrument clusters and touch screens, with integrated robotics for haptic feedback, buttons and knobs assessment. It is conceived for 24/7 high volume manufacturing operations and provides hi-res defective pixel detection, color calibration, brightness uniformity and flicker measurement.
Alfamation Wafer-Level Optical component Tester (WALOT): WALOT is a fully automated test system designed to test passive optical components at Wafer-level, such as diffractive optical elements (‘DOE’), meta optical elements (‘MOE’) and micro lens array (‘MLA’). These optical components are used in consumer electronics devices (i.e. facial recognition) and automotive decorative lighting applications. It combines efficient automation with the capability of handling a wide range of functional tests and is equipped with air-bearing wafer handling system combined with a flexible measurement setup architecture which requires little to no maintenance.
Alfamation Flexmedia XM Specialty Test Modules: Flexmedia XM is a modular, robust and cost-effective solution for building flexible, scalable, functional testers for applications that include audio and video generators and analyzers, automotive ethernet and communication interfaces, and analog measurements. They address the requirements of many automotive infotainment and wireless telematics functional testing needs. Average selling price of each module is $2 thousand, and they are sold online as well, at www.flexmediaxm.com.
Environmental Technologies Products
ThermoStream Products: The company’s ThermoStream products are used in the semi market as a stand-alone temperature management tool, or in a variety of electronic test applications as part of the company’s MobileTemp systems. ThermoStream products provide a source of heated and cooled air that can be directed over the component or device under test. These systems are capable of controlling temperatures to within +/- 0.1 degree Celsius over a range of -100 degrees Celsius to as high as +300 degrees Celsius within 1.0 degree Celsius of accuracy. As a stand-alone tool, ThermoStreams provide a temperature-controlled air stream to rapidly change and stabilize the temperature of packaged ICs and other devices.
The company’s MobileTemp Series combines its ThermoStream products with the company’s family of exclusive, high-speed ThermoChambers to offer thermal test systems with fast, uniform temperature control in a compact package enabling temperature testing at the test location. MobileTemp Systems are designed specifically for small thermal-mass applications beyond the semi market and have found applications in the automotive, electronic, fiber optic and oil field service markets testing such things as electronic sub-assemblies, sensor assemblies, and printed circuit boards.
Traditionally, the company’s customers use ThermoStream products primarily in engineering, quality assurance and small-run manufacturing environments.
Thermal Chambers: The company’s thermal chamber products are available in a variety of sizes, from small bench-top units to chambers with internal volumes of twenty-seven cubic feet and greater and with temperature ranges as wide as from -190 degrees Celsius to +500 degrees Celsius. Chambers can be designed to utilize liquid nitrogen or liquid carbon dioxide cooling or mechanical refrigeration, and sometimes both. These chambers can accommodate large thermal masses and are found in both laboratory and production environments.
Thermal Platforms: The company’s thermal platforms are available in surface sizes ranging from 7.2 square inches to 616 square inches. They provide a flat, thermally conductive, precisely temperature controllable surface that is ideal for conditioning of testing devices with a flat surface. Platforms are available with temperature ranges as broad as -100 degrees Celsius to +250 degrees Celsius. Thermal platforms can be designed to utilize either liquid nitrogen or liquid carbon dioxide cooling or mechanical refrigeration. Platforms offer virtually unimpeded access to the device under test and their easy access and compact size makes them ideal for convenient bench-top use.
Thermonics Products: The company’s Thermonics temperature conditioning products, which include the company’s process chillers, provide tempered gas or fluid to enable customers to maintain desired thermal conditions within their tool or process. Applications include general industrial, chemical processing, energy, electronics, automotive, defense/aerospace and semiconductor markets.
Ultra-Cold Storage Solutions: The company’s high-performance biomedical freezers, refrigerators and mobile storage solutions meet versatile applications, including ultra-cold storage solutions for biological sample banks, blood safety, vaccine safety, medical supplies and reagent safety.
Process Technologies Products
EKOHEAT Products: The company’s EKOHEAT induction heating systems with power ratings from 10kW to 1 MW are manufactured by Ambrell and are used to conduct fast, efficient, repeatable non-contact heating of metals or other electrically conductive materials in order to transform raw materials into finished parts.
EASYHEAT Products: The company’s compact EASYHEAT induction heating systems with power ratings from 0.5kW to 10kW are manufactured by Ambrell and used to conduct fast, efficient, repeatable non-contact heating of metals or other electrically conductive materials in order to transform raw materials into finished parts.
Applications for both EKOHEAT and EASYHEAT products include annealing, bonding, brazing, curing, forging, heat treating, melting, shrink-fitting, soldering and testing.
Digital Streaming and Image Capturing Solutions. The company’s industrial-grade imaging solutions are designed and manufactured by Videology. They provide custom solutions for OEMs and end users and specialize in meeting customers’ design specifications for imaging systems. These products are generally purchased in higher volumes than the company’s other products.
Marketing, Sales and Customer Support
The company markets and sells its products globally and across multiple markets, as previously discussed. North American and European semiconductor manufacturers, as well as third-party foundries, test and assembly providers, have located most of their back-end factories in China, Taiwan and Southeast Asia. The front-end wafer fabrication plants of the U.S. semiconductor manufacturers are primarily in the U.S. Likewise, European, Taiwanese, South Korean and Japanese semiconductor manufacturers generally have located their wafer fabrication plants in their respective countries.
Electronic Test Products: In North America, the company sells its inTEST EMS products to semiconductor manufacturers through internal account representatives and independent, commissioned sales representatives. North American sales representatives also coordinate product installation and support with the company’s technical staff and participate in trade shows.
The company’s internal sales account managers handle sales to ATE manufacturers and are responsible for a portfolio of customer accounts and for managing certain independent sales representatives. In addition, the company’s sales account managers are responsible for pricing, quotations, proposals and transaction negotiations, and they assist with applications engineering and custom product design. Technical support is provided to North American customers by employees based in New Jersey, California and Texas.
In Europe, the company sells to semiconductor and ATE manufacturers through the company’s internal sales staff. Technical support is provided by the company’s staff in the U.K. In China, Japan, the Philippines, South Korea, and Thailand, the company sells using independent sales representatives who are supervised by the company’s internal sales staff. In Malaysia, Singapore and Taiwan, the company’s sales are handled by its internal sales staff. International sales representatives are responsible for sales, installation, support and trade show participation in their geographic market areas. Technical support is provided to Asian customers primarily by employees based in Malaysia, the Philippines and Taiwan.
The company’s robotics-based electronic test equipment and automated test programming services are sold in North America through a combination of internal sales staff and manufacturer representatives. Customer support is supplied by a team located throughout North America. In Europe, these products and services are sold through manufacturer representatives and supported with direct employees based in the company’s Hamburg, Germany facility. In Asia, these products and services are sold through a mixture of distributors and manufacturer representatives. Customer support is provided by trained distributors and supplemented by direct employees from North America and Europe.
The company’s Alfamation products are sold globally through the company’s internal sales staff. Customer support is supplied by teams located in Italy and China.
Environmental Technologies Products: The company markets its Temptronic, Sigma, Thermonics, and North Sciences brands under the umbrella name of inTEST Thermal Solutions and sales to ATE manufacturers are handled directly by the company’s own sales force and the company’s network of independent representatives and distributors. Sales to life sciences customers worldwide are handled directly by the company’s own sales force and by its network of independent representatives and distributors. Sales to semiconductor manufacturers and customers in other markets in the U.S. are handled directly by the company’s own sales force and through independent sales representative organizations. In Singapore, Malaysia, and the Philippines, the company’s sales and service are handled directly by the company’s own sales force and through independent sales representative organizations. In the rest of Asia, the company’s sales are handled through distributors. In Europe, sales managers at the company’s office in Germany, as well as regional distributors and independent sales representatives, sell to semiconductor manufacturers and customers in other markets. The company communicates with its distributors regularly and have trained them to sell and service the company’s thermal products.
Process Technologies Products: The company markets its EASYHEAT and EKOHEAT precision induction heating equipment to manufacturers who require specialized industrial heating in a wide array of industries, including automotive, aerospace and semiconductor, and are sold globally through a combination of regional sales managers and independent distributors. In North America, direct regional sales managers provide sales coverage augmented by independent sales representatives. In Europe, direct sales managers provide sales coverage augmented by independent distributors. In Asia, distributors have responsibility for sales and service of the company’s products. The company generates a significant portion of its sales leads through its website, as well as through trade show attendance where the company displays its products and technology.
The company also provides induction heating product support through the company’s SmartCARE Service offering, which includes equipment repairs and training, preventative maintenance, enhanced warranties and spare parts. The company’s field service engineers, located in the U.S. and Europe, provide service and support globally. Additionally, several distributors in Europe and Asia have factory-trained service technicians.
The company markets its Videology industrial camera solutions to OEMs and end users both directly and through distributors. The company has both manufacturing and service capabilities in the U.S. and the Netherlands. The company acquires its sales from repeat long-term customers, new leads through the company’s website, regional sales managers and distributors, as well as through trade show attendance where the company displays its products and technology.
Customers
The company markets its products to end users, including semiconductor manufacturers, third-party foundries and test and assembly providers, as well as to OEMs, which include ATE manufacturers and their third-party outsource manufacturing partners. The company also markets its products to independent testers of semiconductors, manufacturers of automotive, defense/aerospace, industrial, life sciences and security products, semiconductor research facilities, and manufacturers and manufacturing process integrators for a variety of industrial process applications. The company’s customers use its products principally in production testing or process/manufacturing applications, although the company’s ThermoStream products traditionally have been used largely in engineering development and quality assurance. The company sells to most of the major semiconductor manufacturers in the world.
During the year ended December 31, 2024, one customer accounted for 13% of the company’s consolidated revenue. This revenue was primarily generated by the company’s Electronic Test segment.
An important aspect of the company’s 5-Point Strategy includes broadening and diversifying the company’s customer base. The company plans to do this both through acquisitions as well as through leveraging current customer relationships, increasing the company’s portfolio of product offerings and expanding the company’s global footprint to better serve existing and new customers.
Engineering and Product Development
In the year ended December 31, 2024, the company spent approximately $8.5 million on engineering and product development.
Patents and Other Proprietary Rights
At December 31, 2024, the company held 21 active U.S. patents and had one pending U.S. patent applications covering various aspects of the company’s technology. The company’s U.S. patents expire at various times beginning in 2025 and extending through 2039. During 2024, no U.S. patents were issued and 9 U.S. patents expired. The upcoming expiration of certain of the company’s patents in 2025 will have a material impact on the company’s business. The company also holds foreign patents and file foreign patent applications, in selected cases corresponding to the company’s U.S. patents and patent applications, to the extent management deems appropriate.
Competition
The company’s principal competitors for manipulator products, docking hardware products and tester interface products are Advantest Corporation, Esmo AG, Reid-Ashman Manufacturing Inc. and Teradyne, Inc. The company’s principal competitors for Acculogic products are Digitaltest GmbH, Seica S.p.A., SPEA S.p.A., and Takaya Corporation. The company’s main competitors for Alfamation test equipment are NOFFZ Technologies GmbH, Konrad Technologies GmbH, TST Total Solutions Technology Ltd, MCD Elektronik GmbH and Averna Technologies Inc. For Flexmedia XM products, the company’s principal competitors are Intrepid Control Systems Inc, GÖPEL electronic GmbH, TZ Electronic Systems GmbH and Solectrix GmbH.
The company’s principal competitors for ThermoStream products are FTS Systems, a part of ATS Corporation, and MPI Corporation. The company’s principal competitors for environmental chambers are Cincinnati Sub-Zero Products, Inc., Espec Corp. and Thermotron Industries. The company’s principal competitor for thermal platforms is Environmental Stress Systems Inc. The company’s principal competitors for liquid chillers include Huber Kältemaschinenbau AG, Julabo GmbH, Boyd Corporation, and Advanced Thermal Sciences Corporation. The company’s principal competitors for life sciences products include Panasonic Health Care Holdings Corporation, Haier Group Corporation, Thermo Fisher Scientific Corporation, and Eppendoerf AG.
The company’s principal competitors for EKOHEAT and EASYHEAT products are Inductotherm Corporation, Park-Ohio Holdings Corporation, ENRX Corporation, Trumpf Hüttinger GmbH, Ultraflex Power Technologies and CEIA S.p.A.
History
inTEST Corporation was founded in 1981. The company was incorporated in New Jersey in 1981 and reincorporated in Delaware in 1997.
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