IDT Announces Its Intention to Sell Its Hillsboro, Oregon Wafer Fabrication Facility to Alpha and Omega Semiconductor for $26M

Integrated Device Technology, Inc. IDTI today announced that it intends to sell its Hillsboro, Oregon wafer fabrication facility and related assets to Alpha and Omega Semiconductor Limited AOSL. Under a foundry service arrangement with IDT, AOS has the option to acquire the wafer fabrication facility and related assets for $26 million. The anticipated sale is subject to the execution of a definitive asset purchase agreement with customary closing conditions between AOS and IDT. If the transaction proceeds according to plan, IDT estimates the parties would enter into an asset purchase agreement by the end of calendar year 2011 and the transaction would close by the end of January 31, 2012.