WASHINGTON (dpa-AFX) - PMC-Sierra Inc. (PMCS) Wednesday said it agreed to acquire Enterprise Flash Controller Business and certain PCI Express Switch assets of Integrated Device Technology Inc. (IDTI) for $100 million.
As part of the transaction, PMC will acquire IDT's Enterprise Flash Controller Business, including all related intellectual property, certain PCIe Switch technology and 75 patents overall. The company expects to make employment offers to approximately 50 employees.
The transaction is expected to close in the third quarter, subject to customary closing conditions.
IDT's Enterprise Flash Controller Business accelerates PMC's entrance into the rapidly growing enterprise solid-state drive market with leading-edge PCIe flash controllers, PMC noted.
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