IDT To Sell Fabrication Plant For $26M
SAN JOSE, California (AP) — Integrated Device Technology Inc. plans to sell a wafer fabrication plant in Hillsboro, Ore., to Alpha and Omega Semiconductor Ltd. for $26 million.
IDT, a chip maker based in San Jose, Calif., said Monday that the companies are likely to enter a purchase agreement by the end of the year and that the proposed sale could close by Jan. 31, 2012.
Alpha and Omega, based in Hamilton, Bermuda, had an option to buy the facility.
IDT President and CEO Dr. Ted Tewksbury said in a statement that the sale is part of its planned corporate transition.
In May IDT reported that its fourth-quarter earnings topped analyst estimates as it took advantage of the mobile computing craze.