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NetLogic Microsystems Buys Search Engine Assets

mergers_acquisitions_225px-w_bwJuly 20, 2009 (FinancialWire) — NetLogic Microsystems, Inc. (NASDAQ: NETL), a developer of processors and high-speed integrated circuits, said it has completed its acquisition of certain assets associated with Integrated Device Technology Inc.’s (NASDAQ: IDTI) network search engine products.

Under the terms of the agreement, NetLogic Microsystems paid IDT $90 million in cash plus an additional $10 million in cash for the cost of inventory which will be adjusted subsequent to the closing to reflect the actual inventory on hand.

The acquisition includes IDT’s search accelerator, network search engine and route accelerator product lines and related patents and intellectual property.

According to NetLogic, the acquired products and technologies will complement and further expand the company’s existing portfolio of processors and network search engines, and will further strengthen its relationships with NetLogic Microsystems’ customer base.

Mountain View, California-based NetLogic Microsystems is a fabless semiconductor company. The company’s products are used in networks that are designed to deliver high-definition video delivery over the internet, media-rich content over advanced mobile wireless services, voice transmission over the internet and network security applications.

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