DEAL NOTE: Crowell & Moring Advises GigPeak in its Acquisition By Integrated Device Technology, Inc.
Washington, D.C., April 4, 2017 - Integrated Device Technology, Inc. (NASDAQ: IDTI) announced today that its tender offer by its wholly-owned subsidiary, Glider Merger Sub, Inc. (“Purchaser”), to purchase all outstanding stock of GigPeak, Inc. (NYSE: GIG) at an offer price of $3.08 expired as scheduled at one minute following 11:59 P.M. (12:00 midnight) New York City time, on Monday, April 3, 2017.
Following the expiration of the tender offer and the purchase of shares by IDT, IDT merged Purchaser into GigPeak, which became an indirect wholly owned subsidiary of IDT. GigPeak's optical interface products are broadly used by leading companies in the Communications, Cloud Data Center, and Military/Aviation markets.
Crowell & Moring served as lead legal counsel to GigPeak in this transaction, and the team included Jeffrey C. Selman, Todd Rosenberg, Scott Lessne, Ilana Lubin, Nicholas James, Lorin Dale-Pierce, Simon Leefatt, Karen Kopel, Jennifer Rodriguez, and corporate transaction manager, Matt Postiglione.
The IDTI announcement is available here.
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