IDTI - an IC Play on Growth Markets Message Board

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Technology Stocks : IDTI - an IC Play on Growth Markets

IDTI 48.99

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Mar 29 5:00 PM EST

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To: Chinacat who wrote (10034)	1/25/1999 1:24:00 PM
From: Jim Oravetz	Read Replies (1) of 11555

Integrated Device Tech To Sell San Jose Facility SANTA CLARA, Calif. (Dow Jones)--Integrated Device Technology Inc. (IDTI) will decommission and sell its San Jose fabrication plant to Cadence Design Systems Inc. (CDN) for an undisclosed sum. Integrated Device plans to cut 300 jobs during the second quarter. It plans to transfer another 100 employees to its other manufacturing plants. In a press release Monday, Integrated Device said its manufacturing restructuring and the writedown of impaired assets will reduce operating costs by about $75 million a year. The two companies signed a purchase agreement in December. Cadence Design provides services and technology for product development requirements of electronic companies. Integrated Device provides semiconductors to communication and computing system designers. ++ I'm not sure what Cadence wants with the fab either. The equipment is rather old. Maybe they are just buying the land. Note the undisclosed sum line. Jim

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