Integrated Device Technology, Inc. (IDT) and Qualcomm
today announced the signing of a definitive
agreement to transfer the design team of IDT's Hollywood Quality Video (HQV) and Frame Rate Conversion (FRC) Video Processing product lines and certain related assets to Qualcomm.
In addition, under the terms of
the agreement, both companies will explore opportunities to include
IDT's broad portfolio of mixed-signal products into Qualcomm reference
designs. The all-cash transaction has received appropriate corporate
approvals and is anticipated to close in the coming weeks, subject to
the completion of certain closing conditions.
"This transaction enables IDT to intensify our focus on our core timing,
interface and analog-intensive mixed-signal solutions for growing
applications in cloud computing, wireless infrastructure and consumer
mobility. In addition, it enables a new working relationship with
Qualcomm," said Dr. Ted Tewksbury, president and chief executive officer
at Integrated Device Technology.