Monday, July 15, 2013

PMCS Completes Acquisition of IDT's Flash Controller Business

PMC completed its acquisition of Integrated Device Technology's Enterprise Flash Controller business for approximately $96 million.

The deal, which includes the world’s first NVM Express (NVMe) flash controller, was first announced on May 29, 2013.

“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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