Printer Friendly

Intel to Acquire Chips and Technologies, Inc.; Invests in Advanced Graphics to Accelerate Visual Computing in Mobile PCs.

SANTA CLARA, Calif.--(BUSINESS WIRE)--July 27, 1997--Intel Corporation today announced it has entered into a definitive agreement to acquire Chips and Technologies, Inc. based in San Jose, California.

The acquisition is aimed at advancing capabilities for graphics and visual computing in mobile personal computers.

The terms of the agreement provide for Intel to commence a cash tender offer in the near future for all outstanding shares of Chips and Technologies at a price of $17.50 per share. The terms further provide for a merger of Chips and Technologies with a subsidiary of Intel in which all remaining outstanding shares of Chips and Technologies will be converted into the right to receive $17.50 per share. The transaction is subject to regulatory approval and other conditions.

"As we aggressively drive improved visual computing capabilities to the personal computer, graphics solutions are an increasingly important part of mobile PC platforms," noted Craig R. Barrett, Intel's president and chief operating officer. "Intel and Chips and Technologies already share an excellent working relationship based on our joint efforts in graphics accelerators. Intel's acquisition of Chips and Technologies will provide us with the ability to bring strong graphics solutions to the mobile market segment."

"The need for advanced graphics in mobile systems is significant," stated Jim Stafford, Chips and Technologies' president and chief executive officer. "We look forward to being a part of Intel and to working together to accelerate the establishment of advanced graphics technologies and standards for the mobile industry."

Innovators in Advanced Display Capabilities for Mobile Computers

Chips and Technologies is currently the market segment leader for notebook graphics accelerator chips. The company has industry-leading technology, such as HiQColor(TM) in graphics accelerators for the mobile computing market segment and flat panel displays. Chips and Technologies is currently sampling graphics accelerators with integrated memory.

Chips and Technologies will become a wholly owned subsidiary of Intel Corporation and part of Intel's Graphics Components Division. Jim Stafford, Chips and Technologies' president and chief executive officer, will join Intel as a vice president of the company's Desktop Products Group. He will team with Avtar Saini, vice president and general manager of the Platform Components Division, to co-manage Intel's Graphics Component Division in Folsom and San Jose, California.

Current Chips and Technologies employees will become employees of Intel. Intel does not anticipate any immediate changes to Chips and Technologies' product line, and Chips and Technologies will continue to manufacture and provide its products to customers under existing arrangements for the foreseeable future.

Intel, the world's largest chip maker, is also a leading manufacturer of personal computer, networking and communications products. Additional information is available at .


Tom Waldrop, 408/765-8478


Chips and Technologies

Bruce LeBoss, 408/541-8744
COPYRIGHT 1997 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jul 27, 1997
Previous Article:Year 2000/ Data Integrity Inc. Cuts the Cost, Time and Effort To Prepare PL/I Applications for the Next Century.
Next Article:Results of the Second Quarter of 1997.

Related Articles
Intel Corporation Introduces Next-Generation Pentium II Platform with New 440LX AGPset; Pentium II Processor with the New Intel 440LX AGPset Delivers...
Intel Targets Ease-of-Use as Key PC Industry Challenge.
Cell Computing Introduces Plug-N-Run PCI Micro-Motherboard With Intel Pentium II Processor; Complete 3 x 5 Inch Module Designed for Mobile and...
What's in a chip?
Socket and PacketVideo Show How Mobile Phones Can Deliver Wireless Multimedia Web Content to PDAs Powered by Intel's StrongARM Processor.
Silicon Motion Lynx EM+ Mobile Graphics Solution Selected for Transmeta's Crusoe Reference Design.
Intel Transforms Notebook PCs With New Mobile Pentium III Processor-M; 0.13-Micron Process Technology and Other Advances Drive Higher Performance and...
Intel's new 850E chipset gets support from ATI's RADEON -TM- Graphics Accelerators.
ATI launches industry's most powerful DirectX 9 integrated chipset for Intel platforms.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters