SAN JOSE, Calif., 4 July 2009. Integrated Device Technology Inc. (IDT), a provider of essential mixed signal semiconductor solutions, completed its acquisition of all the shares of Tundra Semiconductor Corp. for an aggregate cash consideration of roughly $120.8 million Canadian.
Tundra officials expect the acquisition to strengthen the IDT product portfolio of serial switching and bridging using PCI Express, Rapid IO, and VME interconnect standards. Additionally, the Tundra technology, combined with the IDT mixed signal product portfolio and channel capabilities, is intended to further reinforce the IDT leadership in interconnect solutions for the communication, computing, and embedded segments, says a representative.
"We believe that this strategic combination will provide customers with a broader product offering as well as improved service, support, and a future roadmap for serial connectivity," says Dr. Ted Tewksbury, president and CEO of IDT. "In addition, we currently project that this acquisition will be financially accretive to IDT's non-GAAP EPS in the second full fiscal quarter of IDT combined operations."
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