April 28, 2009 (FinancialWire) — Integrated Device Technology, Inc. (NASDAQ: IDTI) said it has submitted a written proposal to acquire Tundra Semiconductor Corp. (OTC: TRSCV) (TSX: TUN) in an all cash offer at of CDN$6.25 per share, or around CDN$120.8 million. Tundra has agreed to be acquired by Gennum Corp. (OTC: GNUMF) (TSX: GND) for a mixture of cash and stock.

IDT said its proposal constitutes a premium of 12%, based on Gennum’s 5-day volume weighted average price of CDN$4.59 per share ended April 24. It added that the Tundra board has determined that the IDT proposal is a superior proposal.

Under the terms of the Gennum Agreement, Gennum has a five business day period that ends on May 1 in which to match the IDT proposal.

Canada-based Tundra is a semiconductor company that supplies communications, computing and storage companies with system interconnect products, intellectual property and design services.

San Jose, California-based Integrated Device Technology makes semiconductors.

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