SAN JOSE, Calif., March 7, 2013 /PRNewswire/ -- Atmel ® Corporation (NASDAQ: ATML), a leader in microcontroller and touch technology solutions, today announced that it has completed the acquisition of Integrated Device Technology's (NASDAQ: IDTI) smart metering IC product lines and technologies, further enhancing Atmel's smart energy product portfolio. Terms of the transaction were not disclosed.
The acquisition includes IDT's Metrology Analog Front End (AFE) and System-On-Chip (SoC) devices for single- and poly-phase energy meters. The smart metering IC product line offers best-in-class single- and poly-phase measurement accuracy with better than 0.1 percent accuracy over 5000:1 dynamic range and complements the existing family of Atmel smart metering offerings. 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."According to market research firm Pike Research, annual smart grid revenue will grow to $73 billion by 2020, a compound annual growth rate of over 10 percent.
About Atmel Atmel Corporation (Nasdaq: ATML) is a worldwide leader in the design and manufacture of microcontrollers, capacitive touch solutions, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel is able to provide the electronics industry with complete system solutions focused on industrial, consumer, communications, computing and automotive markets.