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IDT and ICS Expect to Close Merger Today; Company Will Discuss Status of Integration and Fiscal Q2 Outlook During September 19, 2005 Conference Call.


SAN JOSE, Calif. -- Integrated Device Technology IDT (NASDAQ: IDTI) was founded in 1980 as a semiconductor vendor. Employing approximately 2500 people worldwide, headquartered in San Jose, California and operating a fab in Hillsboro, Oregon, the company both designs and fabricates semiconductor components. , Inc. ("IDT IDT Integrated Device Technology, Inc. (Santa Clara, CA, USA)
IDT I Don't Think
IDT Identity Theft
IDT Interrupt Descriptor Table
IDT Integrated DNA Technologies
IDT Inactive Duty Training
IDT Instructional Design & Technology
") (Nasdaq:IDTI IDTI Integrated Device Technology Inc ), a leading communications IC company, and Integrated Circuit Systems, Inc. ("ICS (1) (Internet Connection Sharing) A Windows feature that enables two or more computers to share one Internet connection. First introduced in Windows 98 Second Edition, sharing is accomplished with network address translation (NAT), which is the common method. ") (Nasdaq:ICST ICST Imperial College of Science and Technology (UK)
ICST Institute for Computer Science and Technology
ICST Institute for Computer Sciences & Technology
ICST Intra-Company Stock Transfer (retail) 
), a leading timing solutions IC company, announced that they expect the close of their merger to occur by the end of the day, today.

"This merger represents an important step in the transformation of IDT," said Greg Lang, president and chief executive officer of IDT. "We provide our customers with a broad range of vital solutions, utilizing advanced timing, switching, buffering, and packet-processing technologies. The combination of ICS's leadership position in clocks and IDT's success in the communications market provides our combined customer base with a full suite of leadership solutions to today's challenging system design problems. Furthermore, we expect to achieve significant operating and manufacturing cost synergies as a combined company."

"We are excited about the pending close of the merger," said Hock hock: see wine.  Tan, president and chief executive officer of ICS. "Our customers and shareholders should experience significant benefits from the merger of these two strong companies. We are now quickly moving to the implementation and integration phase."

IDT will hold a conference call on September 19, 2005 at 5:30 a.m. (PDT PDT
abbr.
Pacific Daylight Time


PDT Pacific Daylight Time

PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico

PDT 
) to update its investors on the integration and fiscal Q2 guidance for the combined company. IDT will hold its fiscal Q2 earnings call on November 8, 2005 at 1:30 p.m. (PDT).

Webcast and Conference Call Information

Investors can listen to a live or replay Webcast of the Company's post-close conference call at www.IDT.com. The live Webcast begins at 5:30 a.m. PDT on September 19, 2005. The Webcast replay will be available after 10:30 a.m. PDT on September 19 through September 26, 2005. A taped telephone replay of the conference call will be available on September 19, 2005 beginning at 9:00 a.m. PDT by calling (800) 475-6701 or (320) 365-3844 and will be accessible until 11:59 p.m. PDT on September 26, 2005. The access code is 796124. Investors can also listen to the live call at 5:30 a.m. PDT on September 19, 2005 by calling (866) 254-5942 or (612) 332-1213.

Investor Information

IDT stock is traded on the Nasdaq Stock Market Nasdaq stock market

The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies.
(R) under the symbol "IDTI." The Company is included in the S&P 1000, which is a combination of the S&P MidCap 400 and S&P SmallCap 600 Indices, and is also part of the S&P SuperComposite 1500, which combines the S&P 500, MidCap 400, and SmallCap 600. Additional information about IDT is accessible at www.IDT.com. The merged company will continue to trade under the IDTI symbol.

About IDT

IDT is a global leader in semiconductor solutions for advanced network services. IDT serves communications equipment vendors by applying its advanced hardware, software and memory technologies to create flexible, highly integrated products that enhance the functionality and processing of network equipment. IDT accelerates innovation with products such as network search engines (NSEs), flow-control management (FCM FCM

See: Futures commission merchant


FCM

See futures commission merchant (FCM).
) ICs and its commitment to and products for standards-based serial switching. The portfolio also comprises products optimized for communications applications, including telecom products, FIFOs, multi-ports, and timing solutions. In addition, the product mix includes high-performance digital logic and high-speed SRAMs to meet the requirements of leading communications companies.

About ICS

ICS established recognition as a world leader in the design, development, and marketing of silicon timing devices for communications, networking, computing, and digital multimedia applications. ICS has been headquartered in Norristown, Pa., with key facilities in San Jose, Calif.; Tempe, Ariz.; Worcester, Mass.; and Singapore. For more information, visit the ICS web site at www.icst.com.

Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 Statement

This release contains, in addition to statements of historical fact, certain forward-looking statements. These forward-looking statements relate to the merger and the combined company and involve risk and uncertainty. Actual results could differ from those currently anticipated due to a number of factors, including those mentioned in documents filed with the SEC by both IDT and ICS. Forward-looking statements are based on information available to management at the time, and they involve judgments and estimates. Factors that could cause results to differ from expectations include: the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; transaction costs Transaction Costs

Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it).
; the level of market demand for the products of the companies; competitive pressures; economic conditions in the U.S. and other countries where the companies operate; information technology spending; technological obsolescence ob·so·les·cent  
adj.
1. Being in the process of passing out of use or usefulness; becoming obsolete.

2. Biology Gradually disappearing; imperfectly or only slightly developed.
; industry competition; and other specific factors discussed in the IDT and ICS's most recent Annual Reports on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 and the IDT and ICS's Quarterly Reports on Form 10-Q Form 10-Q

See 10-Q.
 and Current Reports on Form 8-K. IDT and ICS assume no responsibility to update any forward-looking statements as a result of new information or future developments.

IDT, Interprise and the IDT logo are trademarks of Integrated Device Technology, Inc. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Sep 16, 2005
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