May 31st, 2013 by Josh Shaman
PMC Sierra Announces Acquisition of IDT
PMC Sierra has announced that PMC is acquiring Integrated Device Technology's (IDT) enterprise flash controller business as well as some of their PCIe Switch assets, their IP and 75 of their patents for $100,000,000. The PMC acquisition of IDT was made to propel PMC into the enterprise SSD space with state-of-the-art controllers such as the first NVMe flash controller. PMC also holds that their time-to-market should improve by about two years as a result of this transaction. This is also significant news as IDT said it expects the enterprise SSD space to account for 50% of all SSD sales starting in a few years, which will also further drive controller sales.
IDT has been a significant player in driving PCIe SSD adoption. They were a founding member of the NVM Express Work Group which was formed to standardize the software interface of both enterprise and client SSDs. IDT has continued that work by directing the standard's evolution.
PMC and IDT's boards have both approved the deal which is expected to close in Q3 2013.