San Jose-based communications IC provider Integrated Device Technology (IDT) has purchased Freescale Semiconductor’s timing solutions business for $35m, for the expansion of IDT’s silicon-based communications timing products, the companies reported.
The transaction was initiated by Integrated Circuit Systems (ICS) prior to the close of its merger with IDT, and follows a 10-year cross-licensing agreement between ICS and Freescale.
Under terms of the transaction, IDT will acquire Freescale’s timing solutions assets and serve as Freescale’s preferred timing solutions provider.
Also, IDT and Freescale have entered into a long-term foundry agreement for the acquired products, meant to serve as a transition and allow IDT to satisfy existing and future product-delivery commitments. The Freescale timing solutions team will be integrated with IDT’s product team located in Arizona.
The acquired portfolio of clocking solutions is targeted at the networking, server, storage and memory clocking markets including products for communications processor-based systems, clock synthesisers for servers, and industry-standard clock products for a wide range of cost-sensitive, high-volume applications.
David Perkins, senior v-p and general manager of Freescale’s networking and computing systems group concluded: “This deal with IDT is designed to enable our customers to have seamless, uninterrupted access to the advanced timing solutions developed by Freescale. It also enables Freescale to continue focusing on core businesses that leverage our strengths in embedded processing, SoC platforms and RF technology.”
www.idt.com