Teradyne, Inc. manufactures and sells automatic test equipment worldwide. The company offers semiconductor test systems used for wafer level and device package testing. These chips are used in automotive, communications, consumer, computer, and electronic game applications. It sells its semiconductor test systems to integrated device manufacturers (IDMs) that integrate the fabrication of silicon wafers into their business, ‘Fabless’ companies that outsource the manufacturing of silicon wafers, ‘Foundries’ that cater to the processing and manufacturing of silicon wafers, and subcontractors that provide test and assembly services for the final packaged devices to both Fabless companies and IDMs. The company also provides assembly test systems comprising in-circuit test systems, imaging inspection systems, and military/aerospace test systems and instrumentation. Teradyne also offers diagnostic solutions, which include original equipment manufacturers (OEMs) service diagnostics to find faults in vehicles, and vehicle configuration and test solutions to the automotive OEMs and subcontractors. The company was founded in 1960 and is headquartered in North Reading, Massachusetts.