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SEMICONDUCTORS IDT Makes Move Into China With Newave Purchase.(A)
By James DeTar
Investor's Business Daily
Semiconductor maker Integrated Device Technology Inc. is the latest U.S. company to join the mad scramble to set up shop in China.
On Monday, IDT will take the wraps off a deal to buy Newave Semiconductor Corp. for $80 million in cash. Newave, a private company in Santa Clara, Calif., makes communications chips. It also has a chip design center in Shanghai with 70 engineers.
IDT plans to buy rival Newave to gain entry into the Chinese market. David Cote, IDT's vice president of worldwide marketing, says the purchase is a gamble in today's shrinking market. But he thinks it's worth it.
"It's not without risk, but certainly it's without taking significant risk. And it will give us strategic design talent," Cote said.
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