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Article: SONICblue Completes Transfer of Graphics Chips Assets to Via Technologies Joint Venture; SONICblue Transfers S3 Chip Business to Focus on New Digital Media Market.
- Article from:
- Business Wire
- Article date:
- January 4, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors/Technology Writers
SANTA CLARA, Calif.--(BUSINESS WIRE)--Jan. 4, 2001
SONICblue(TM) Incorporated (Nasdaq: SBLU), a leader in the converging Internet, digital media and consumer device markets, announced today that it has completed the transfer of its graphics chips assets to a joint venture between a subsidiary of SONICblue and VIA Technologies (TAIEX: 2388). Under the terms of the agreement, SONICblue will receive 13 million shares of SONICblue stock as initial payment from VIA and the joint venture will assume certain liabilities of SONICblue. SONICblue will also receive earn-out payments if the new venture meets certain aggressive ...