IDT Acquires Fox Electronics

SAN JOSE, Calif. -- Integrated Device Technology, Inc. (IDT®) (NASDAQ: IDTI), the Analog and Digital Company™ delivering essential mixed-signal semiconductor solutions, today announced that it has acquired Fox Electronics, a leading global supplier of frequency control products (FCPs), in an all-cash transaction for approximately $30 million, of which $26 million was paid at closing. Fox Electronics’ revenue was approximately $23 million in calendar year 2011, and the company is profitable.

“Everyone within Fox Electronics is enthusiastic about this exciting new direction with IDT”
“Fox’s crystal, crystal oscillator and innovative XpressO products combined with IDT’s award-winning CrystalFree™ solutions make us the industry’s most comprehensive one-stop shop for frequency control products,” said Ted Tewksbury, president and CEO at IDT. “In addition, Fox helps accelerate the adoption of CrystalFree by enabling customers to purchase pMEMS and CMOS solid-state oscillators alongside traditional quartz-based components through an established and trusted sales channel.”

“Everyone within Fox Electronics is enthusiastic about this exciting new direction with IDT,” said E.L. Fox, Jr., president at Fox Electronics. “With IDT’s frequency control products, including CrystalFree technology, and their number one position in silicon timing, Fox’s product portfolio and industry leadership in the frequency control market will be a great fit.”

Fox Electronics, a private company based in Florida, is a world leader for frequency control solutions with an expansive portfolio including the XpressO family of revolutionary quick-turn oscillator products, quartz crystals, voltage-controlled crystal oscillators and more. Fox’s FCP-focused sales team will be a valuable asset to grow IDT’s crystal and CrystalFree product offerings.

About IDT
Integrated Device Technology, Inc., the Analog and Digital Company™, develops system-level solutions that optimize its customers’ applications. IDT uses its market leadership in timing, serial switching and interfaces, and adds analog and system expertise to provide complete application-optimized, mixed-signal solutions for the communications, computing and consumer segments. Headquartered in San Jose, Calif., IDT has design, manufacturing and sales facilities throughout the world. IDT stock is traded on the NASDAQ Global Select Stock Market® under the symbol “IDTI.” Additional information about IDT is accessible at www.IDT.com. Follow IDT on Facebook, LinkedIn, Twitter, and YouTube.

IDT and the IDT logo are trademarks or registered trademarks of Integrated Device Technology, Inc. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

Integrated Device Technology Inc. (IDT) (Nasdaq: IDTI)

Fox Electronics Inc.