Integrated Device Technology, Inc. (IDT) today announced an agreement to acquire privately held ZMDI (Zentrum Mikroelektronik Dresden AG) for total consideration of $310M in cash. The acquisition provides IDT with a highly regarded Automotive & Industrial business, and extends their technology leadership in high performance programmable power devices and timing & signal conditioning.
Automotive & Industrial provides a significant new growth opportunity. IDT gains immediate leverage for new designs in Wireless Charging, Power Management, and Timing & Signal Conditioning. ZMDI’s business is already well established and positioned for growth, and benefits immediately from IDT’s scale and technology.