PMC completed its acquisition of Integrated Device Technology's Enterprise Flash Controller business for approximately $96 million.
“Customer response to the announcement has been very positive due to the leading technology we’re acquiring and the many benefits of working with a single supplier for PCIe and SAS flash solutions,” said Greg Lang, president and chief executive officer of PMC. “With this acquisition, we accelerate our time-to-market by approximately two years with early product leadership and a robust design win pipeline, including wins spanning tier one datacenter, original equipment manufacturer (OEM), and solid-state drive (SSD) customers.”
Flash-based storage is causing a major disruption in enterprise storage due to the dramatic performance advantages of solid-state drives over traditional hard disk drives. IDT’s award-
Approximately 50 IDT employees in California, New Jersey, and Italy have joined PMC’s Enterprise Storage division.
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