PLX, IDT Combination Recommended to Be Blocked by FTC

PLX, IDT Combination Recommended to Be Blocked by FTC 
SUNNYVALE, CA -- (Marketwire) -- 12/19/12 --  PLX Technology, Inc.
(NASDAQ: PLXT), a leading global supplier of high-speed connectivity
solutions enabling emerging data center architectures, today
announced the Federal Trade Commission (FTC) has issued an
administrative complaint seeking to block the proposed merger between
PLX(R) and Integrated Device Technology (IDT) announced on April 30,
2012, and is authorized to pursue a preliminary injunction in federal
district court or other relief necessary to stop the deal pending a
full administrative trial. 
"We are truly disappointed and strongly disagree with the complaint
issued by the FTC as we believe the merger would accelerate
innovation and decrease costs," said David Raun, interim president
and CEO, PLX. "We are evaluating this move by the FTC and reviewing
our options with IDT. 
"During the long process with the FTC, PLX has streamlined the
company to re-focus on its PCI Express leadership by divesting its
unprofitable product lines, thereby dramatically reducing operating
expenses. All significant remaining costs associated with these
divested products lines will be eliminated by the end of the current
quarter. With a dedicated group of employees, a proven product
portfolio and roadmap, and strong customer relationships, PLX is
well-positioned to return to profitability and positive cash flow in
the coming quarters. 
"Our results from continuing operations have been strong. Visit the
PLX Website at to see our
report on Form 8-K filed on November 9, 2012 which reports our
historical financial results of continuing operations and classifies
the divested product lines as discontinued operations." 
Safe Harbor Statement
 This press release includes forward-looking
statements. These include statements regarding our anticipated
expense reductions, and the company being profitable and cash flow
positive. Such statements involve risks and uncertainties, which may
cause actual results to differ materially from those set forth in the
statements. Factors that could cause actual results to differ
materially include risks and uncertainties, such as the reduced
demand for products of electro
nic equipment manufacturers that use
PLX's products; adverse economic conditions in general or those
specifically affecting PLX's markets; reduced backlog for PLX's
customers and unexpected expenses; uncertainties as to the timing of
the proposed transaction with IDT; the risk that the transaction will
not close because of a failure to satisfy one or more of the offer
closing conditions (including regulatory approvals); the risk that
the announcement and pendency of the transaction may make it more
difficult to establish or maintain relationships with employees,
suppliers and other business partners and the risk that PLX's
business will have been adversely impacted during the pendency of the
transaction. Please also refer to the documents filed by PLX with the
SEC from time to time, including, but not limited to, the Annual
Report on Form 10 K for the year ended December 31, 2011, and PLX's
quarterly reports on Forms10-Q, which identify important risk factors
that could cause actual results to differ from those contained in the
forward-looking statements. All forward-looking statements are made
as of today, and the company assumes no obligation to update such
Additional Information
 This press release is for informational
purposes only and shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. Any
offer with respect to the acquisition of PLX will only be made
through the prospectus, which is part of the registration statement
on Form S-4, which contains an offer to purchase, form of letter of
transmittal and other documents relating to the exchange offer, as
well as the Tender Offer Statement on Schedule TO (collectively, and
as amended and supplemented from time to time, the "Exchange Offer
Materials"), each initially filed with the U.S. Securities and
Exchange Commission (the "SEC") by Integrated Device Technology, Inc.
("IDT") on May 22, 2012. The registration statement has not yet
become effective. In addition, PLX filed with the SEC on May 22,
2012, a solicitation/recommendation statement on Schedule 14D-9 (as
amended and supplemented from time to time, the "Schedule 14D-9")
with respect to the exchange offer. Investors and security holders
are urged to carefully read these documents and the other documents
relating to the transactions because these documents contain
important information relating to the exchange offer and related
transactions. Investors and security holders may obtain a free copy
of these documents, as filed with the SEC, and other annual,
quarterly and special reports and other information filed with the
SEC by IDT or PLX, at the SEC's website at In addition,
such materials will be available from IDT or PLX, or by calling
Innisfree M&A Incorporated, the information agent for the exchange
offer, toll-free at (877) 456-3463 (banks and brokers may call
collect at (212) 750-5833). 
Investor Relations Contact:
Leslie Green
Green Communications Consulting, LLC (for PLX)
Tel: (650) 312-9060 
Company Contact:
Arthur Whipple
PLX Technology, Inc.
Tel: (408) 774-9060 
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