Janney Montgomery Scott Provided a Fairness Opinion to inTEST Corporation

8/8/17

inTEST Corporation (NYSE MKT: INTT) has acquired Ambrell Corporation. inTEST has agreed to acquire all of the outstanding shares of Ambrell common stock. The purchase price for Ambrell was $22 million in cash paid at closing, which is subject to a post-closing working capital adjustment. Additional consideration may be paid based upon a multiple of adjusted EBITDA for 2017 and 2018, not to exceed $18 million. The acquisition is expected to contribute $20 million to $25 million in net revenues to inTEST's consolidated operations for calendar year 2018 and to be accretive beginning in the third quarter of 2017. Upon the closing of the transaction, Ambrell became a wholly owned subsidiary of inTEST.

Janney Montgomery Scott LLC provided a fairness opinion to the Company's Board of Directors.

inTEST Corporation is an independent designer, manufacturer and marketer of thermal management products and ATE interface solutions, which are used by semiconductor manufacturers to perform final testing of integrated circuits (ICs) and wafers. The Company's high-performance products are designed to enable semiconductor manufacturers to improve the speed, reliability, efficiency and profitability of IC test processes. The Company's products are also sold into the automotive, consumer electronics, defense/aerospace, energy, industrial and telecommunications markets. Specific products include temperature management systems, manipulator and docking hardware products and customized interface solutions. The Company has established strong relationships with its customers globally, which it supports through a network of local offices.

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