Transaction Expands Power Solution Capabilities of IDT
SAN JOSE, California, April 22, 2010 – Integrated Device Technology, Inc. (IDT®; NASDAQ: IDTI), a leading provider of essential mixed signal semiconductor solutions that enrich the digital media experience, today announced it has acquired the assets of IKOR, a former subsidiary of iWatt Corporation that manufacturers power module VRM solutions for high-performance computing. The all-cash transaction closed on April 16, 2010 and has already received appropriate board approvals.
“IKOR’s innovative power technology complements IDT’s growing power management initiative, allowing us to achieve higher levels of performance and integration,” said Dr. Ted Tewksbury, president and CEO of IDT. “The strength of IKOR’s patented coupled inductor technology uniquely positions IDT to serve the high-performance power management demands of the enterprise computing segment. We welcome IKOR’s expert team of power engineers to the growing analog team at IDT.”
With the goal of continuously improving the digital media experience, IDT integrates its fundamental semiconductor heritage with essential innovation, developing and delivering low-power, mixed signal solutions that help customers overcome their system challenges. 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.
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