IDT to buy networking IC firm for $250 million

IDT to buy networking IC firm for $250 million

Business news |
By Peter Clarke

GigPeak designs high-speed ASICs in a variety of semiconductor materials ranging from silicon and silicon-germanium up to indium phosphide. GigPeak’s optical interface products are already broadly used by leading companies in the Communications, Cloud Data Center, and Military/Aviation markets.

The deal will add approximately $16 million of quarterly revenue to IDT’s revenues, IDT said. IDT had revenues of $176.4 million in IDT’s third quarter fiscal 2017 ended January 1, 2017.

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