Thursday, June 11, 2009

IDT Acquires Touch Sensor Technology from Leadis Technology (Updated from 8K)

SAN JOSE, Calif.--(BUSINESS WIRE)--IDT® (Integrated Device Technology, Inc.) (NASDAQ:IDTI), a leading provider of essential mixed signal semiconductor solutions that enrich the digital media experience, today announced it has purchased the touch sensor technology assets from Leadis Technology. In addition, IDT will also acquire the Leadis Technology intellectual property and employee teams necessary to execute on the existing roadmap for continued touch sensor leadership and success. The transaction closed yesterday, June 10, 2009.

From the Leadis 8K filing: "......The total cash consideration for the Touch Assets is $6.25 million. At the closing of the transaction on June 10, 2009, IDT paid Leadis $5.975 million of cash consideration, with an additional $275,000 to be paid 45 days after the Closing (subject to any indemnification claims made by IDT). IDT also offered employment to certain employees that were employed in Leadis’ touch sensor business."