IDT Announces Its Intention to Sell Its Hillsboro, Oregon Wafer Fabrication Facility to Alpha and Omega Semiconductor
SAN JOSE, Calif., August 29, 2011 – Integrated Device Technology, Inc. (IDT®; NASDAQ: IDTI), the Analog and Digital Company™ delivering essential mixed-signal semiconductor solutions, today announced that it intends to sell its Hillsboro, Oregon wafer fabrication facility and related assets to Alpha and Omega Semiconductor Limited (“AOS”, NASDAQ: AOSL). Under a foundry service arrangement with IDT, AOS has the option to acquire the wafer fabrication facility and related assets for $26 million. The anticipated sale is subject to the execution of a definitive asset purchase agreement with customary closing conditions between AOS and IDT. If the transaction proceeds according to plan, IDT estimates the parties would enter into an asset purchase agreement by the end of calendar year 2011 and the transaction would close by the end of January 31, 2012.
“This announcement marks an important phase in IDT’s transition to a fabless semiconductor company. Our system solution strategy requires access to a wide variety of process technologies and an ecosystem of outsourced manufacturing partners. Two years ago, IDT entered into a product fabrication agreement with TSMC and we are nearing completion of the transfer of our products and process technologies to their fabs.” said Dr. Ted Tewksbury, president and chief executive officer at Integrated Device Technology. “The transformation to a fabless model will enable IDT to focus our resources and investments on innovative new product definition and development, while outsourcing manufacturing to industry leading foundry partners.”
Integrated Device Technology, Inc., the Analog and Digital Company™, develops system-level solutions that optimize its customers’ applications. IDT uses its market leadership in timing, serial switching and interfaces, and adds analog and system expertise to provide complete application-optimized, mixed-signal solutions for the communications, computing and consumer segments. Headquartered in San Jose, Calif., IDT has design, manufacturing and sales facilities throughout the world. IDT stock is traded on the NASDAQ Global Select Stock Market® under the symbol “IDTI.” Additional information about IDT is accessible at www.IDT.com. Follow IDT on Facebook, LinkedIn, Twitter, and YouTube.
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