30 Apr '12, 9pm

IDTがPLX Techを買収>for $330 million: @ee_timesさんから

SAN FRANCISCO—Chip vendor Integrated Device Technology Inc. (IDT) said Monday (April 30) it signed a definitive agreement to acquire connectivity chip vendor PLX Technology Inc. in a cash and stock deal worth about $330 million. Also Monday, IDT announced it acquired frequency control products vendor Fox Electronics for about $30 million in cash. IDT (San Jose, Calif.) said it would acquire all outstanding shares of PLX. Under the terms of the deal, IDT will pay all PLX shareholders $3.50 in cash plus 0.525 shares of IDT common stock for each share of PLX. Based on IDT's closing price last week, the value of the deal is roughly $7 per share of PLX, IDT said. Both companies' boards unanimously approved the deal, which still requires the approval of PLX shareholders, IDT said. Ted Tewksbury, IDT's president and CEO, said through a statement that the proposed acquisition of P...

Full article: http://www.eetimes.com/electronics-news/4371972/IDT-buyin...

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