IDT to acquire PLX in $330million deal
Integrated Device Technology (IDT) has announced plans to acquire PLX Technology (PLX) in a deal valued at approximately $330million.
"The proposed acquisition of PLX Technology represents an exciting expansion of IDT's core serial switching and interface business," said Ted Tewksbury, president and ceo at IDT. "Our two companies have complementary product sets, technologies and customer bases, and we share a focus on delivering the highest performance system level interconnect solutions for data centres and other applications."
Ralph Schmitt, president and ceo at PLX, commented: "We expect that a transaction with IDT will enhance PLX's commitment to its customers to deliver innovative technologies that meet their needs and demands."
The proposed transaction is expected to close in IDT's first quarter of 2013.
