In May 2006, PMC-Sierra acquired Passave, Inc., a developer of system-on-chip semiconductors for the fiber to the home access market in a stock-for-stock transaction valued at approximately $300 million. Passave was headquartered in Boston and had a development center in Tel Aviv, Israel. On October 22, 2010, PMC-Sierra acquired Wintegra Inc. for $240 million. Wintegra had 165 employees with the majority of its development team located in Raanana, Israel, and Austin, Texas. A further acquisition was made on the 29th of May 2013 when PMC acquired IDT's Enterprise Flash Controller Business.