SAN JOSE, Calif., September 16, 2005 — Integrated Device Technology, Inc. (“IDT”, Nasdaq:
“We are excited about the pending close of the merger,” said Hock Tan, president and chief executive officer of ICS. “Our customers and shareholders should experience significant benefits from the merger of these two strong companies. We are now quickly moving to the implementation and integration phase.”
IDT will hold a conference call on
Webcast and Conference Call Information
Investors can listen to a live or replay Webcast of the Company’s post-close conference call at www.IDT.com. The live Webcast begins at on
IDT stock is traded on the Nasdaq Stock Market® under the symbol “IDTI.” The Company is included in the S&P 1000, which is a combination of the S&P MidCap 400 and S&P SmallCap 600 Indices, and is also part of the S&P SuperComposite 1500, which combines the S&P 500, MidCap 400, and SmallCap 600. Additional information about IDT is accessible at www.IDT.com. The merged company will continue to trade under the IDTI symbol.
IDT is a global leader in semiconductor solutions for advanced network services. IDT serves communications equipment vendors by applying its advanced hardware, software and memory technologies to create flexible, highly integrated products that enhance the functionality and processing of network equipment. IDT accelerates innovation with products such as network search engines (NSEs), flow-control management (FCM) ICs and its commitment to and products for standards-based serial switching. The portfolio also comprises products optimized for communications applications, including telecom products, FIFOs, multi-ports, and timing solutions. In addition, the product mix includes high-performance digital logic and high-speed SRAMs to meet the requirements of leading communications companies.
ICS established recognition as a world leader in the design, development, and marketing of silicon timing devices for communications, networking, computing, and digital multimedia applications. ICS has been headquartered in
, with key facilities in Norristown, Pa. ; San Jose, Calif. ; Tempe, Ariz. ; and Worcester, Mass. . For more information, visit the ICS web site at www.icst.com. Singapore
This release contains, in addition to statements of historical fact, certain forward-looking statements. These forward-looking statements relate to the merger and the combined company and involve risk and uncertainty. Actual results could differ from those currently anticipated due to a number of factors, including those mentioned in documents filed with the SEC by both IDT and ICS. Forward-looking statements are based on information available to management at the time, and they involve judgments and estimates. Factors that could cause results to differ from expectations include: the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; transaction costs; the level of market demand for the products of the companies; competitive pressures; economic conditions in the U.S. and other countries where the companies operate; information technology spending; technological obsolescence; industry competition; and other specific factors discussed in the IDT and ICS’s most recent Annual Reports on Form 10-K and the IDT and ICS’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. IDT and ICS assume no responsibility to update any forward-looking statements as a result of new information or future developments.
IDT, Interprise and the IDT logo are 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.