May 01, 2012
Latham & Watkins LLP has advised Integrated Device Technology, Inc. ("IDT") in two corporate transactions. In the first matter, IDT and PLX Technology, Inc. ("PLX") announced a definitive agreement pursuant to which IDT will acquire PLX for a total transaction value of approximately $330 million. IDT will acquire all of the outstanding shares of PLX common stock pursuant to an exchange offer, followed by a second step merger. The companies expect that the proposed transaction will close as early as IDT's first fiscal quarter 2013, which is the second quarter of calendar 2012. Latham & Watkins LLP represented IDT in the transaction with a corporate team led from the firm’s Silicon Valley office by partners Mark Roeder and Jamie Leigh, with associates Tiffany Campion and Steven Bierly in Chicago and Kathleen Cui and Lee Baker in Silicon Valley. Advice was also provided on antitrust by partners Karen Silverman and Joshua Holian, with associate Debbie Won, in San Francisco; on tax by partners Kirt Switzer and Grace Chen in San Francisco; on intellectual property by partner Anthony Klein and associate Julia Taylor in Silicon Valley; on employee benefits and compensation by associates James Metz in Silicon Valley and Julie Crisp in San Francisco; on finance by partner John Kenney and associate Christopher Watson in San Francisco; on environmental by partner Karl Karg in Chicago; and on real estate by partner David Schapiro and associate Jeffrey Anderson in Chicago.
In the second transaction, IDT announced that it has acquired Fox Electronics, a leading global supplier of frequency control products (FCPs), in an all-cash transaction for approximately $30 million. The Latham & Watkins team advising IDT on the transaction was also led from the firm's Silicon Valley office by corporate partner Mark Roeder, with associates Abtin Jalali and Lee Baker in Silicon Valley. Advice was also provided on tax matters by partner Grace Chen; on employee benefits and compensation by associate James Metz; on intellectual property by partner Anthony Klein and associate Julia Taylor; and on real estate by partner David Schapiro in Chicago.