IDT (NASDAQ: IDTI) is a semiconductor manufacturer based in San Jose, California, with approximately 35 research and design centers and sales offices worldwide. The company was founded in 1980 and employs approximately 2,400 people worldwide. IDT [(http://www.idt.com)] has an annual revenue of more than $780 million (in fiscal 2008).
Company Focus
IDT develops mixed signal semiconductor solutions for use in digital media. Focusing on power smart solutions that optimize system-level performance while maximizing the performance of digital devices, the IDT product and solutions portfolio helps transport, process and deliver today’s digital media. IDT uses its innovation and expertise to enable its customers to achieve significant advances in the download time, power efficiency, processing, quality and reliability of current and next-generation communications, computing and consumer applications.
Currently, IDT focuses on three business segments: communications, computing and consumer.
Communications
The IDT goal is to work with customers and partners to remove bottlenecks affecting the rapid delivery of digital media traveling to and through the network. The IDT solutions in the enterprise and service-provider environments help remove digital media traffic jams, enabling users to gain faster access to their desired digital media content.
Being a leading supplier of timing, switching, bridging and specialty memory products to the leading OEMs that power the network — from base stations to switches to routers — gives IDT access to a wide knowledge base. From this unique industry perspective, IDT is able to view many sides of each problem, providing its customers with an integrated solution, not just a single, simple device.
Computing
The server, PC and notebook markets are in a constant state of flux. For servers, IDT pulls from its strengths in timing, high-speed SerDes and power management technologies to enable higher-performance and lower-power servers to connect to a broad variety of peripheral devices to move digital media from one location to another.
For mobile computing, desktops and docking stations, IDT solutions — from timing, switching, bridging and interconnects to audio, video and touch sensor technology — deliver not just data and content, but also the full digital media experience to the end user.
Consumer
The consumer market continues to push the technology envelope by demanding devices with higher performance at a lower price-point. To meet this ongoing demand, gaming platforms, DVD and Blu-ray players, digital still cameras, set-top boxes, flat panel TVs and others will continue to grow in variety and functionality, while shrinking in size and cost.
The IDT focus on improving the device performance and the consumer experience through innovation and integration is helping IDT customers in the consumer market to deliver products today with functionality and performance that was only dreamt about yesterday. IDT solutions are at the forefront of this growing market, improving battery life through power smart solutions, and enhancing device performance and cost effectiveness through flexibility and integration, again, delivering the full digital media experience.
Recent Activities
In August, 2009, IDT entered into an agreement to transfer product fabrication processes and related activities currently running in the IDT Hillsboro, Oregon facility to TSMC foundries. The transfer is expected to take up to two years to complete and will cover the lifecycle of all products involved.
In June, 2009, IDT acquired Tundra Semiconductor for about CDN$120.8 million. The Tundra acquisition is expected to strengthen the IDT product portfolio of serial switching and bridging using PCI Express®, Rapid IO® and VME interconnect standards.
In June, 2009, IDT acquired the touch sensor technology assets from Leadis Technology. In addition, IDT also acquired the Leadis Technology intellectual property and employee teams necessary to execute on the existing roadmap.
In April, 2009, IDT sold its network search engine business to NetLogic Microsystems, Inc (NASDAQ: NETL) for approximately $100 million.
In October, 2008, IDT purchased the video processing technology and related assets from Silicon Optix, including the Hollywood Quality Video (HQV™) brand and the Reon™ product line [(http://www.hqv.com)].
In February, 2008, IDT announced that Dr. Ted Tewksbury has been named president and chief executive officer of the company. Prior to IDT, Dr. Tewksbury was president and chief operating officer of AMI Semiconductor.
In July, 2006 IDT acquired the PC Audio division of Austin-based company SigmaTel for $80 million.
In October, 2005 IDT acquired Freescale Semiconductor's timing solutions business for $35 million.
In June, 2005 IDT acquired Integrated Circuit Systems (ICS) for about $1.5 billion in cash and stock.
In May, 2004, IDT acquired ZettaCom, Inc.
In April, 1999 IDT acquired Quality Semiconductor (QSI), a supplier of clock management and bus switch logic.
