Atmel buys IDT smart meter IC business in all-cash transaction

Greentech Lead America:Integrated Device Technology (IDT), the Analog and Digital Company delivering essential mixed-signal semiconductor solutions, announced IDT has transferred the assets and design team of its smart metering IC product lines to Atmel in an all-cash transaction.Financial terms of the deal were not disclosed.

The acquisition strengthens Atmel’s smart energy product portfolio.  Amtel specializes in the design and manufacture of microcontrollers, capacitive touch solutions, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components.

The acquisition includes IDT’s Metrology Analog Front End (AFE) and System-On-Chip (SoC) devices for single- and poly-phase energy meters. Atmel’s smart metering portfolio includes the world’s first single-chip power line communications (PLC)-based solution targeting the rapidly growing PRIME smart metering market.

“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,” stated Steve Laub, president and CEO, Atmel Corporation. “By offering a broader, more integrated product portfolio, existing IDT and Atmel customers now have access to a more complete and compelling suite of smart energy solutions that will enable a wider range of applications.”

Worldwide smart meter shipments surpassed 20.6 million units in the fourth quarter of 2012 (4Q12), according to the latest report from IDC Energy Insights.

“This transaction sharpens IDT’s strategic focus while reducing operating expenses and improving profitability,” said Ted Tewksbury, president and CEO at Integrated Device Technology.