IDT (IDTI) Completes Acquisition of Tundra Semiconductor; Sees Deal Accretive to Combined Operations
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IDT (Integrated Device Technology, Inc.) (NASDAQ: IDTI) announced the closing of its acquisition of all of the shares of Tundra Semiconductor Corporation (TSX: TUN) for aggregate cash consideration of approximately CDN $120.8 million.
Dr. Ted Tewksbury, president and CEO of IDT, says, "...In addition, we currently project that this acquisition will be financially accretive to IDT's non-GAAP EPS in the second full fiscal quarter of IDT combined operations."
Integrated Device Technology, Inc. (IDT) designs, develops, manufactures and markets a range of semiconductor solutions for the advanced communications, computing and consumer industries.[SM]
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