IDT Adds To Atmel Smart-Metering Portfolio
Mixed-signal semiconductor provider Integrated Device Technology Inc. (IDT) transferred the assets and design team of its smart-metering IC product lines to Atmel Corporation in an all-cash transaction. Terms of the deal were not disclosed. The acquisition includes IDT’s Metrology Analog Front End (AFE) and System-On-Chip (SoC) devices for single- and poly-phase energy meters. “This transaction sharpens IDT’s strategic focus while reducing operating expenses and improving profitability,” commented IDT President/CEO Ted Tewksbury, with Atmel President/CEO Steve Laub adding, "Smart energy is a key focus for Atmel, and we are delighted that we have been able to expand our smart energy solutions portfolio with this acquisition." According to Pike Research, annual smart-grid revenue will grow to $73 billion by 2020, a compound annual growth rate of more than 10 percent.

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