PMC acquires IDT’s Enterprise Flash Controller business

24th July 2013

PMC-Sierra

ES Admin

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PMC-Sierra announce that they have completed the purchase of Integrated Device Technology’s Enterprise Flash Controller business, including the world’s first NVM Express flash controller. With the addition of these controllers, PMC is positioned for leadership in the rapidly growing market for enterprise flash controllers.

On May 29, 2013, PMC announced a definitive agreement to acquire IDT’s Enterprise Flash Controller business and certain PCI Express Switch assets. The aggregate purchase price was 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, and solid-state drive 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-winning flash controllers improve latency, endurance and power efficiency, resulting in storage solutions that deliver the features required to more broadly adopt flash in cloud and datacenter applications.

Approximately 50 IDT employees in California, New Jersey, and Italy have joined PMC’s Enterprise Storage division.