Integrated Device Technology to acquire Quality Semiconductor Tom Foremski
Integrated Device Technology (IDT) will acquire Quality Semiconductor (QSI) as it seeks to expand its business with QSI's line of logic and networking chips.
The value of the deal was not disclosed. IDT will offer 0.6875 shares for each QSI share. IDT predicts that the acquisition will help the company's operating profits. "This is an excellent opportunity for IDT to enhance its product offerings and grow revenue while keeping costs well in-hand," said Len Perham, IDT president and CEO.
"For QSI, the benefits of this agreement include a broader market for our products and access to IDT's large worldwide selling organization. In addition, the QSI board felt that the terms of the transaction were attractive to and in the best interest of QSI's shareholders," said R. Paul Gupta, QSI president and CEO.