IDT® (Integrated Device Technology, Inc.; NASDAQ: IDTI), a leading provider of essential mixed signal semiconductor solutions that enrich the digital media experience, announced it has purchased the market leading video processing technology and related assets from Silicon Optix, including the Hollywood Quality Video (HQV[tm]) brand and the Reon[tm] product line. In addition, IDT has acquired the members of the Silicon Optix HQV intellectual property and engineering teams necessary to continue delivering video processing leadership and success. The transaction, which was approved by the boards of directors of each company and the stockholders of Silicon Optix, closed today. IDT plans to operate the resulting business as part of its industry-leading Video and Display Operation, which is based out of the company’s San Jose, Calif. headquarters. The new division will be primarily located in the existing Silicon Optix Toronto, Canada facility.
The Silicon Optix Emmy® award winning HQV video processing technology enables the sharpest and most detailed HD images possible by utilizing features such as true 1080i-to-1080p HD deinterlacing and a sophisticated multi-directional diagonal filter that ensures video free from jagged edges. HQV also enables SD material to approach HD quality by employing advanced scaling, per-pixel detail enhancement, and noise reduction technology that removes noise and artifacts caused by compression. The newly acquired IDT HQV products and technology are complementary to the DisplayPort[tm]-certified IDT PanelPort[tm] receiver and integrated timing controller products. As a result of existing strong customer relationships within this market, IDT anticipates providing increased value-add to customers while accelerating the widespread adoption and ongoing success of flat panel displays. IDT plans to maintain the current production flow for existing Reon products, and intends to utilize the assets in enabling new video processing capabilities.
“With the increasing success of the DisplayPort standard and our PanelPort products, we believe the flat panel display market is undergoing an important evolution which will result in enhanced high definition quality and performance for the consumer. The HQV technology complements our PanelPort devices and broader video product portfolio. We see the addition of HQV enabling us to extend our value-add to our customers while expanding our market and technology leadership,” said Dr. Ted Tewksbury, IDT president and CEO. “We plan to use our expertise, expanded resources and current relationships within the flat panel market to further the successes of Hollywood Quality Video.”
Additional information on this transaction will be discussed during the IDT fiscal second quarter financial results conference call. The live webcast will begin at 1:30 p.m. PT on October 23, 2008.
With the goal of continuously improving the digital media experience, IDT integrates its fundamental semiconductor heritage with essential innovation, developing and delivering low-power, mixed signal solutions that solve customer problems. Headquartered in San Jose, Calif., IDT has design, manufacturing and sales facilities throughout the world. IDT stock is traded on the NASDAQ Global Select Stock Market® under the symbol “IDTI.”
IDT, PanelPort, Silicon Optix, HQV and the IDT logo are trademarks or registered trademarks of Integrated Device Technology, Inc.