STMicroelectronics Completes Acquisition of RAVISENT's Consumer Electronics Business.Business Editors GENEVA--(BUSINESS WIRE)--March 5, 2001 Acquisition reinforces ST's strength in embedded solutions for digital multimedia applications, including DVDs, Set-Top Boxes and Digital TV STMicroelectronics (NYSE NYSE See: New York Stock Exchange : STM (Scanning Tunneling Microscope) A microscope that can image down to the atomic level. An STM uses a piezoelectric tube with a tiny sharp tip at the end that is moved within nanometers of the object being sampled. ), the leading system-on-chip supplier to the digital consumer electronics industry, today announced the completion, effective 1 March 2001, of the acquisition of the Consumer Electronics (CE) business of RAVISENT Technologies Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : RVST RVST Raad Van State (Belgian supreme administrative court) RVST Relative Value Scale in Teaching ), an IP licensing company providing digital audio and video software solutions and Internet appliance technology. The acquisition by ST, which was announced in January 2001, of RAVISENT's CE assets also included the intellectual properties of the software CineMaster CE DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. technology, employees and technology know-how developed by the company. Following the completion of the acquisition, the RAVISENT CE team, who are based in the Philadelphia area in the US and in Karlsruhe, Germany, will be fully integrated into the Digital Video Division within ST's Consumer and Microcontroller Groups. "I am delighted that the acquisition of RAVISENT's CE business has been completed. I welcome to ST the highly qualified RAVISENT CE team, with whom we have been cooperating for the past several years. This acquisition is an important step for ST in offering a complete system-on-chip platform for digital consumer appliances. It will strengthen ST's leading position in the areas of DVD, Set-Top Box and Digital TV markets," said Philippe Lambinet, General Manager of ST's Digital Video Division. "ST's key strengths in development, and product support will enable ST to continue to offer great service to the customers," said Frank Wilde, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of RAVISENT Technologies. "RAVISENT's CE assets, provides additional resources to enable ST to attract new business and continue to grow its worldwide presence." RAVISENT and ST will maintain a strong working relationship and continue to build on their complementary strengths. About STMicroelectronics STMicroelectronics (formerly SGS-THOMSON Microelectronics) is a global independent semiconductor company, whose shares are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , on the ParisBourse and on the Milan Stock Exchange Milan Stock Exchange The largest regional stock exchange in Italy, facilitating more than 90% of the country's trading volume. . The Company designs, develops, manufactures and markets a broad range of semiconductor integrated circuits (ICs) and discrete devices used in a wide variety of microelectronic applications, including telecommunications systems, computer systems, consumer products, automotive products and industrial automation and control systems. In 2000, the Company's net revenues were $7,813.2 million and net earnings were $1,452.1 million. Further information on ST can be found at www.st.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion