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PMC-Sierra Inc Announces Acquisition Of Integrated Device Technology Inc

Wednesday, 29 May 2013 04:01pm EDT 

PMC-Sierra, Inc announced that it has entered into a definitive agreement to acquire Integrated Device Technology Inc (IDT) Enterprise Flash Controller Business and certain PCI Express (PCIe) Switch assets for $100 million, subject to certain purchase price adjustments. IDT`s Enterprise Flash Controller Business accelerates PMC`s entrance into the rapidly growing enterprise solid-state drive (SSD) market with leading-edge PCIe flash controllers, including the world`s first NVM Express (NVMe) flash controller. PMC believes that it will be able to improve its time-to-market by approximately two years due to the early product leadership and a robust design win pipeline, including wins spanning tier one datacenter, original equipment manufacturer (OEM) and SSD customers. As part of the transaction, PMC will acquire IDT`s Enterprise Flash Controller Business, including all related intellectual property (IP), certain PCIe Switch technology and 75 patents overall. The Company expects to make employment offers to approximately 50 employees. 

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