DRESDEN, Germany, Dec. 7, 2015 /PRNewswire/ -- Integrated Device Technology, Inc.® (IDT®) (NASDAQ: IDTI) today completed the acquisition of privately held ZMDI (Zentrum Mikroelektronik Dresden AG) for $307 million. Announced six weeks ago, the acquisition brings to IDT a highly regarded automotive and industrial business, as well as high-performance programmable power devices and signal conditioning solutions.
"IDT has gained an extraordinarily talented team and intellectual property that will help fuel our growth as we continue to outpace the semiconductor industry at large," said IDT President and CEO Greg Waters. "In addition to increasing our technology portfolio, we gain a very complementary customer base that significantly extends our future ability to provide integrated system-level semiconductor solutions."
ZMDI's strength in the automotive and industrial segments provides IDT immediate design-in leverage for wireless charging, power management, and timing and signal conditioning. ZMDI's high-power programmable power devices complement IDT's existing low- and medium-power devices, creating a new industry franchise for high-performance, scalable power management solutions ideal for everything from solid state drives to data centers and 4G/5G base stations.
Integrated Device Technology, Inc. develops system-level solutions that optimize its customers' applications. IDT's market-leading products in timing, serial switching and interfaces are among the company's broad array of complete mixed-signal solutions for the communications, computing, consumer, automotive and industrial segments. Headquartered in San Jose, Calif., IDT has design, manufacturing, sales facilities and distribution partners 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, YouTube and Google+.
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