IDT sells its PCIe enterprise flash controller biz to PMC-Sierra
Integrated Device Technology has agreed to sell its PCI Express (PCIe) enterprise flash controller business and related PCIe intellectual property assets to PMC-Sierra for US$100 million in cash (approximate).
“The divestiture of our PCIe flash controller business enables IDT to capitalize on our early investments in this disruptive technology,” said Ted Tewksbury, president and CEO at IDT. “Going forward, we will focus our R&D investments on advanced timing, wireless power, memory interface, and communications signal chain solutions. This enhanced focus will accelerate operating margin expansion while sustaining long-term revenue growth.”