IDT to Acquire ZMDI for $310 Million
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Integrated Device Technology (IDTI) Agrees to Acquire ZMDI for $310M
October 26, 2015 4:09 PM EDTIntegrated Device Technology, Inc. (IDT®) (NASDAQ: IDTI) today announced an agreement to acquire privately held ZMDI (Zentrum Mikroelektronik Dresden AG) for total consideration of $310M in cash. The acquisition provides IDT with a highly regarded Automotive & Industrial business, and extends their technology leadership in high performance programmable power devices and timing & signal conditioning.
Adds $20M of quarterly revenues to IDT at 57% gross marginsAccretive to earnings in first full quarter following closeIDT gains a growing Automotive & Industrial business, with immediate sales leverage for current productsCreates an industry franchise in Intelligent Power... More