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News Breaks | | | | December 18, 2012 | | 19:41 EDT |  | IDTI, PLXT | FTC seeking to block Integrated Device, PLX Technology merger
The Federal Trade Commission issued an administrative complaint seeking to stop Integrated Device Technology's (IDTI) proposed $330M acquisition of PLX Technology (PLXT), a deal that allegedly would give the combined firm a near-monopoly in the market for a type of integrated computer circuits called PCIe switches. The commission also authorized the staff to seek a preliminary injunction in federal district court or other relief necessary to stop the deal pending a full administrative trial. According to the FTC, IDT and PLX are each other’s closest and most direct competitor in the nearly $100M market for PCIe switches. IDT’s proposed acquisition of PLX would give the combined firm a share in excess of 85% of the market, according to the FTC. Reference Link | |
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