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PMC announces completion of acquisition of IDTa[euro](tm)s Enterprise Flash Controller business for USD96m.

M2 EQUITYBITES-July 16, 2013-PMC announces completion of acquisition of IDTa[euro](tm)s Enterprise Flash Controller business for USD96m(C)2013 M2 COMMUNICATIONS http://www.m2.com

PMC-Sierra Inc (PMC) (Nasdaq:PMCS), a semiconductor company focused on big data, announced on Monday that it has completed its purchase of the Enterprise Flash Controller business of Integrated Device Technology Inc (IDT) (IDTI), including the world's first NVM Express (NVMe) flash controller.

The company said that on 29 May 2013, it announced a definitive agreement to acquire IDT's Enterprise Flash Controller business and certain PCI Express (PCIe) Switch assets for an aggregate purchase price of approximately USD96m.

According to PMC, with the addition of these controllers, it is positioned for leadership in the rapidly growing market for enterprise flash controllers.

Also, with the completion of the acquisition, approximately 50 IDT employees in California, New Jersey, and Italy have joined PMC's Enterprise Storage division.

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Publication:M2 EquityBites (EQB)
Date:Jul 16, 2013
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