| Thread Tools |
2nd May 2012, 08:40 | #1 |
[M] Reviewer Join Date: May 2010 Location: Romania
Posts: 148,055
| IDT to Acquire PLX Technology Integrated Device Technology, Inc. (IDT), the Analog and Digital Company delivering essential mixed-signal semiconductor solutions, and PLX Technology, Inc., today announced that they have signed a definitive agreement pursuant to which IDT will acquire PLX. Under the terms of the agreement, unanimously approved by the boards of directors of both companies, IDT will acquire all of the outstanding shares of PLX common stock pursuant to an exchange offer, followed by a second step merger. In the acquisition, PLX stockholders will receive $3.50 in cash and 0.525 shares of IDT common stock for each PLX common share outstanding. Based on IDT's closing stock price on April 27, 2012, the transaction is valued at approximately $7.00 per PLX share and results in a total transaction value of approximately $330 million. "The proposed acquisition of PLX Technology represents an exciting expansion of IDT's core serial switching and interface business," said Ted Tewksbury, president and CEO at IDT. "Our two companies have complementary product sets, technologies and customer bases, and we share a focus on delivering the highest-performance system-level interconnect solutions for data centers and other applications. IDT and its shareholders will benefit from the top-line contribution of our enhanced product portfolio as well as the increased profitability provided through the added scale and expanded operating margin. This transaction is aligned with our long-term strategy of expanding our core businesses through organic growth and acquisitions." http://www.techpowerup.com/165159/ID...echnology.html |
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
LSI Announces Agreement to Acquire SandForce | jmke | WebNews | 0 | 27th October 2011 16:26 |
LSI Announces Agreement to Acquire SandForce | Stefan Mileschin | WebNews | 0 | 27th October 2011 07:49 |
Asustek considering acquisition to acquire Toshiba | jmke | WebNews | 0 | 16th November 2009 21:38 |
HP to Acquire 3Com for $2.7 Billion | jmke | WebNews | 0 | 12th November 2009 17:47 |
ATIC Makes Bid to Acquire Chartered | jmke | WebNews | 0 | 7th September 2009 16:41 |
Palit reportedly to acquire Galaxy | jmke | WebNews | 0 | 22nd February 2008 16:26 |
Acer to Acquire Gateway | jmke | WebNews | 0 | 27th August 2007 15:14 |
AMD Set to Acquire ATI for $5.5 – $5.6 Billion | jmke | WebNews | 4 | 24th July 2006 14:09 |
Thread Tools | |
| |