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IDT to purchase SigmaTel's PC, notebook audio codec line

Posted: 27 Jul 2006 ?? ?Print Version ?Bookmark and Share

Keywords:Integrated Device Technology? IDT? SigmaTel? High Definition Audio? HD-Audio?

Integrated Device Technology Inc. (IDT) announced that it has reached an agreement with SigmaTel Inc. to purchase its AC-97 and High Definition Audio (HD-Audio) PC and notebook audio codec product lines.

Based on the terms of the transaction, IDT will acquire both product lines and related software for a one-time fee of $72 million in cash. IDT will also acquire the SigmaTel intellectual property and employee teams necessary to execute on the existing roadmap for continued PC and notebook audio leadership and success. The transaction, which has already received regulatory and related approvals, is anticipated to close by the end of this month.

"With SigmaTel's products complementing our existing computing product portfolio, we are able to broaden our technology and market leadership while extending our value to key customers in the PC market," said IDT President and CEO Greg Lang. "We plan to use our expertise, expanded resources and current relationships within the PC market to further accelerate the ongoing successes achieved by SigmaTel."

Pursuant to the asset purchase agreement, IDT will acquire the SigmaTel PC and Notebook audio codec product lines, including the design, marketing, manufacturing rights and software for both existing and roadmap products. IDT plans to maintain the current production flow for existing SigmaTel products, and intends to execute an aggressive product roadmap for advanced PC and Notebook audio needs.

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