Monday, April 30, 2012

IDT Buys PLX, Fox Electronics

San Jose-based mixed signal semiconductor maker IDT said Monday afternoon that it has acquired two firms, in separate transactions. According to IDT, it has acquired Sunnyvale-based PLX Technology, in a deal worth approximately $330M, and separately, acquired Florida-based Fox Electronics, a supplier of frequency control products, in a deal worth $30M. PLX is publicly held, trading on the NASDAQ as PLXT; IDT said it will pay $7.00 per PLX share for PLX, split between $3.50 in cash and 0.525 shares of IDT common stock. The Fox Electronics deal is all cash.