IDT and PLX Technology Announce Termination of Proposed

IDT and PLX Technology Announce Termination of Proposed Transaction
and IDT Withdraws Exchange Offer for PLX Technology Shares 
SAN JOSE, CA and SUNNYVALE, CA -- (Marketwire) -- 12/19/12 -- 
Integrated Device Technology, Inc. (IDT(R)) (NASDAQ: IDTI), the
Analog and Digital Company(TM) delivering essential mixed-signal
semiconductor solutions, and PLX Technology, Inc. ("PLX Technology")
(NASDAQ: PLXT), a developer of I/O interconnect silicon and
complimentary software, today announced that they have mutually
agreed to terminate their merger agreement pursuant to which IDT
would acquire PLX Technology. Concurrently, IDT also announced that
it is withdrawing its related exchange offer to acquire all of the
issued and outstanding shares of common stock, $0.001 par value, of
PLX Technology and instructed Computershare, the exchange agent for
the exchange offer, to promptly return all previously tendered
shares. As of the close of business on December 19, 2012, 21,876,215
shares were previously tendered in the exchange offer. 
The decision to terminate the merger agreement and withdraw the
exchange offer was made in response to a determination by the United
States Federal Trade Commission ("FTC") to file an administrative
complaint challenging IDT's proposed acquisition of PLX Technology
and the absence of a clear path for the parties to complete the
proposed transaction. Subsequent to the FTC determination and
following the parties review of the FTC's decision and a discussion
of appropriate next steps, IDT informed PLX Technology that, with the
facts and circumstances known to IDT regarding the FTC decision at
this time, consistent with its rights under the terms of the merger
agreement, IDT would not extend the outside date for the exchange
offer past January 31, 2013 and would not agree to any settlement or
remedies with the FTC which included IDT disposing of any portion of
its business, assets or properties.  
"We are disappointed by the FTC's decision to seek to enjoin the
transaction," said Ted Tewksbury, president and chief executive
officer of IDT. "Although we continue to believe in the benefits of
the transaction, our management and board of directors have
determined that it was in the best long-term interests of IDT and its
stockholders not to pursue what would likely be a protracted, costly
and unpredictable litigation process. PLX impressed the IDT team
throughout the process with their professionalism and capabilities.
During this period of time PLX effectively executed on plans to
significantly reduce operating expenses consistent with IDT's
synergies savings plan which has improved its financial condition." 
"After discussions with IDT and our board of directors, we agree that
litigation to pursue the acquisition by IDT is not in the best
interests of our stockholders," said David Raun, interim president
and chief executive officer of PLX Technology. "IDT informed us that
they would exercise their right to not extend the outside date of the
exchange offer beyond January 31, 2013. Given that litigation against
the FTC to a final resolution could not happen as a practical matter
before January 31, 2013, PLX agreed to terminate the transaction now
to avoid fruitless legal expenses. While we are disappointed with the
FTC decision, we are excited about PLX Technology's prospects as an
independent company. In the last six months we divested unprofitable
businesses, reducing our annual operating expenses by approximately
$20M, and strengthened our focus and technology leadership in our
core PCI Express business. We have a solid foundation for long term
growth, profitability and positive cash flow."  
About IDT 
Integrated Device Technology, Inc., the Analog and Digital
Company(TM), develops system-level solutions that optimize its
customers' applications. IDT uses its market leadership in timing,
serial switching and interfaces, and adds analog and system expertise
to provide complete application-optimized, mixed-signal solutions for
the communications, computing and consumer segments. Headquartered in
San Jose, Calif., IDT has design, manufacturing and sales facilities
throughout the world. IDT stock is traded on the NASDAQ Global Select
Stock Market(R) under the symbol "IDTI." Additional information about
IDT is accessible at Follow IDT on Facebook, LinkedIn,
Twitter, and YouTube. 
About PLX
 PLX Technology, Inc. (NASDAQ: PLXT), based in Sunnyvale,
Calif., USA, is an industry-leading global provider of
semiconductor-based connectivity solutions primarily targeting the
enterprise and consumer markets. The company develops innovative
software-enriched silicon that enables product differentiation,
reliable interoperability and superior performance. Visit PLX on, Facebook, Twitter and YouTube. 
Forward-Looking Statements 
Certain statements in this press release may contain forward-looking
statements relating to IDT and/or PLX. Statements concerning
activities, events or developments that IDT and/or PLX expects,
believes or anticipates will or may occur in the future are
forward-looking statements. Forward-looking statements are based on
current expectations and projections about future events and involve
known and unknown risks, uncertainties and other factors that may
cause actual results and performance to be materially different from
any future results or performance expressed or implied by
forward-looking statements, including the following: the risk that
IDT's or PLX's business will have been adversely impacted during the
pendency of the proposed transaction; and other economic, business
and competitive factors affecting the businesses of IDT and PLX
generally, including those set forth in the filings of IDT and PLX
with the SEC from time to time, including their respective annual
reports on Form 10-K and quarterly reports on Form 10-Q, their
current reports on Form 8-K and other SEC filings. These
forward-looking statements speak only as of the date of this
communication and neither IDT nor PLX undertakes any obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events and developments or otherwise,
except as required by law.  
IDT and the IDT logo are trademarks or registered trademarks of
Integrated Device Technology, Inc. All other brands, product names
and marks are or may be trademarks or registered trademarks used to
identify products or services of their respective owners.  
PLX and the PLX logo are registered trademarks of PLX Technology,
IDT Press Contact:
Graham Robertson
Integrated Device Technology, Inc. Corporate 
Phone: (408) 284-2644
IDT Investor Relations Contacts:
Mike Knapp 
Integrated Device Technology, Inc. Investor Relations 
Phone: (408) 284-6515
PLX Investor Relations Contact:
Leslie Green
Green Communications Consulting, LLC 
Phone: (650) 312-9060
PLX Company Contact:
Arthur O. Whipple
PLX Technology, Inc.
Phone: (408) 774-9060
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