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INTEGRATED DEVICE TECHNOLOGY INC FILES (8-K) Disclosing Other Events, Financial Statements and Exhibits
(Edgar Glimpses Via Acquire Media NewsEdge) Item 8.01 Other Events.
On January 31, 2012 (the "Closing Date"), Integrated Device Technology, Inc., a
Delaware corporation ("IDT"), completed the sale of its wafer fabrication
facility located in Hillsboro, Oregon and related assets (the "Facility") to
Jireh Semiconductor Incorporated, an Oregon corporation ("Jireh") and wholly
owned subsidiary of Alpha and Omega Semiconductor Limited, a Bermuda limited
liability exempted company ( "AOS"), pursuant to an Asset Purchase Agreement,
dated December 14, 2011, by and among IDT, Jireh and AOS. AOS previously paid $5
million to IDT for an option to acquire the Facility. As part of the
consideration paid for the Facility, Jireh made an incremental payment of $21
million to IDT on the Closing Date. The $26 million consideration paid by AOS as
of the Closing Date is subject to post-closing adjustment, based on changes in
the value of certain inventory utilized in the maintenance and repair of the
equipment located at the Facility. IDT estimates this adjustment to be
approximately an additional $500,000, resulting in a total consideration of
approximately $26.5 million.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
10.1 Asset Purchase Agreement, dated as of December 14, 2011, by and
among Integrated Device Technology, Inc., Alpha and Omega
Semiconductor Limited, and Jireh Semiconductor Incorporated,
filed as Exhibit 10.1 to IDT's Current Report on Form 8-K on
December 20, 2011, is incorporated herein by reference.
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