Tundra Announces Receipt of Cdn $6.25 per Share Cash Offer from Integrated Device Technology, Inc.



    OTTAWA, April 27 /CNW Telbec/ - Tundra Semiconductor Corporation (TSX:
TUN) ("Tundra") today announced the receipt of an acquisition proposal from
Integrated Device Technology, Inc. (NASDAQ:   IDTI) ("IDT") for the acquisition
of all of the issued and outstanding common shares of Tundra by way of a
statutory plan of arrangement at a cash price of Cdn $6.25 per share, or an
aggregate purchase price of approximately Cdn $120.8 million (the "IDT
Offer"). The IDT Offer is not subject to any due diligence condition, and IDT
has indicated that the purchase price payable under its offer will be funded
from IDT's cash balance.
    The Tundra Board of Directors has determined that the IDT Offer
constitutes a "Superior Proposal" as defined under the amended arrangement
agreement between Gennum Corporation (TSX: GND) ("Gennum") and Tundra (the
"Gennum Agreement") initially announced on March 19, 2009 and amended on April
16, 2009.
    Under the Gennum Agreement, Gennum has agreed to acquire all of the
issued and outstanding shares of Tundra for consideration of, at the election
of the holder, a cash price of Cdn $5.81 per share or 1.1679 common shares of
Gennum or a combination thereof, subject to pro ration. The IDT Offer
constitutes a premium of 12% over Gennum's offer, based on Gennum's 5-day
Volume Weighted Average Price on the TSX ended April 24, 2009 of Cdn $4.5904
per Gennum common share and a premium of 13% over Gennum's offer, based on the
closing price on the TSX of Cdn $4.48 per Gennum common share on April 24,
2009.
    Tundra provided notice to Gennum on April 25, 2009 that the IDT Offer
constitutes a Superior Proposal as defined in the Gennum Agreement. Pursuant
to the Gennum Agreement, Gennum has the right, but not the obligation, to
offer to amend the terms of the Gennum Agreement for a period of five business
days, ending on May 1, 2009.
    Tundra's Board of Directors is obliged to review in good faith any such
offer by Gennum to determine whether any such amended offer by Gennum, upon
acceptance by Tundra, would cause the IDT Offer to cease to be a Superior
Proposal, in which case Tundra would enter into an amended agreement with
Gennum. If after the expiry of Gennum's match period at 11:59 p.m. EDT on May
1, 2009, Gennum does not offer to amend the terms of the Gennum Arrangement,
Tundra is permitted to terminate the Gennum Agreement and contemporaneously
enter into the arrangement agreement submitted by IDT as part of the IDT
Offer, subject to compliance with the Gennum Agreement including the payment
of a Cdn $5.0 million termination fee to Gennum.

    About Tundra

    Tundra Semiconductor Corporation (TSX: TUN) supplies the world's leading
communications, computing and storage companies with System Interconnect
products, intellectual property (IP) and design services backed by world-class
customer service and technical support. Tundra's track record of product
leadership includes over a decade of bridges and switches enabling key
industry standards: RapidIO(R), PCI, PCI-X, PCI Express(R), Power
Architecture(TM), VME, HyperTransport(TM), Interlaken, and SPI4.2. Tundra's
products deliver high functional quality and simplified board design and
layout, with specific focus on system level signal integrity. Tundra's design
services division, Silicon Logic Engineering, Inc., offers industry-leading
ASIC and FPGA design services, semiconductor intellectual property and product
development consulting. Tundra's technology connects critical components in
high performance embedded systems around the world. For more information,
please visit www.tundra.com.

    Caution Regarding Forward-Looking Statements

    Certain statements in this news release regarding the transaction between
Tundra and Gennum and the IDT Offer, and any other statements regarding
Tundra's future expectations, beliefs, goals or prospects constitute
forward-looking information within the meaning of applicable securities
legislation (collectively "forward-looking statements"). Any statements that
are not statements of historical fact (including statements containing the
words "believes", "plans", "anticipates", "expects", "estimates" and similar
expressions) should also be considered forward-looking statements. A number of
important factors could cause actual results or events to differ materially
from those indicated or implied by such forward-looking statements, including
without limitation: the parties' ability to consummate the transaction; the
conditions to the completion of the transaction, including the receipt of
shareholder approval, court approval or the regulatory approvals required for
the transaction may not be obtained on the terms expected or on the
anticipated schedule; the parties ability to meet expectations regarding the
timing, and completion and accounting and tax treatments of the transaction.
    Tundra assumes no obligation to update the information in this
communication, except as otherwise required by law. Additional information
identifying risks and uncertainties is contained in Tundra's filings with the
various provincial securities commissions which are available online at
www.sedar.com. Forward-looking statements are provided for the purpose of
providing information about the current expectations, beliefs and plans of the
management of Tundra relating to the future. Readers are cautioned that such
statements may not be appropriate for other purposes. Readers are also
cautioned not to place undue reliance on these forward-looking statements,
that speak only as of the date hereof.
    This news release and the information contained herein does not
constitute an offer of securities for sale in the United Sates and securities
may not be offered or sold in the United States absent registration or
exemption from registration.

    Tundra and the Tundra logo are registered marks of Tundra Semiconductor
Corporation in Canada, the United States, the European Union and the People's
Republic of China. RapidIO is a trademark of the RapidIO Trade Association,
Inc. The PowerPC name, the Power Architecture name, and the PowerPC logotype
are trademarks of International Business Machines Corporation, used under
license therefrom.




For further information:

For further information: Keri Zeran, Director, Marketing Communications,
Tundra Semiconductor Corporation, (613) 697-6788, Keri.Zeran@tundra.com

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TUNDRA SEMICONDUCTOR CORPORATION

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