PMC Completes Acquisition of IDT Flash Controller Business

PMC-Sierra, Inc. has completed the purchase of Integrated Device Technology, Inc.‘s (IDT) enterprise flash controller business, including the first NVMe flash controller.

With the addition of these controllers, PMC is better positioned in the growing market for enterprise flash controllers.

On May 29, 2013, PMC announced a definitive agreement to acquire IDT’s enterprise flash controller business and certain PCIe switch assets.

The aggregate purchase price was approximately $96 million.

"Customer response to the announcement has been very positive due to the leading technology we’re acquiring and the many benefits of working with a single supplier for PCIe and SAS flash solutions," said Greg Lang, president and CEO, PMC. "With this acquisition, we accelerate our time-to-market by approximately two years with early product leadership and a robust design win pipeline, including wins spanning tier one datacenter, OEM, and SSD customers."

Flash-based storage is causing a disruption in enterprise storage due to the performance advantages of SSDs over traditional HDD drives. IDT’s flash controllers improve latency, endurance and power efficiency, resulting in storage solutions that deliver the features required to adopt flash in cloud and datacenter applications.

Approximately 50 IDT employees in California, New Jersey, and Italy have joined PMC’s enterprise storage division.

Read also:
PMC Got IDT Flash Controller Business and Some PCIe Switch Assets
For $100 million