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.