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IDT enters purchase deal for new headquarters

Posted: 22 Dec 2004 ?? ?Print Version ?Bookmark and Share

Keywords:integrated device technology? idt?

Integrated Device Technology Inc. (IDT) has signed an agreement to purchase a more than twenty-acre campus located at 6024 Silver Creek Valley Road in the Edenvale area of South San Jose. The campus includes about 263,000 square-foot modern facility. The location has been identified as the company's future corporate headquarters, where over 600 of its Silicon Valley-based employees will work.

"Our objectives in deciding upon a new campus are to improve the collaborative environment for our employees, while improving our bottom line," said Greg Lang, president and CEO of IDT. "The new campus allows us to consolidate from five disparate buildings to one integrated complex, while achieving a several million dollar improvement in our annual operating costs. Our strong balance sheet, coupled with the support we've received from the city of San Jose, allows us to achieve both of these objectives. By taking advantage of the current commercial real estate market, we are now able to plan for future expansion and reduce facility-related operating expenses," Lang added.

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