IDT Divests Smart Meter Business
SAN JOSE, Calif., March 7, 2013 – Integrated Device Technology, Inc. (IDT®) (NASDAQ: IDTI) the Analog and Digital Company™ delivering essential mixed-signal semiconductor solutions, today announced IDT has transferred the assets and design team of its smart metering IC product lines to Atmel in an all-cash transaction. Terms of the deal were not disclosed.
“This transaction sharpens IDT’s strategic focus while reducing operating expenses and improving profitability,” said Ted Tewksbury, president and CEO at Integrated Device Technology.
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.
IDT and the IDT logo are trademarks or registered trademarks of Integrated Device Technology, Inc. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.