SANTA CLARA, Calif.--(BUSINESS WIRE)--July 7,
2003--Tvia, Inc. , announced today the completion of the sale of its software
business and software-related assets to MediaTek, Inc. of Taiwan. Tvia's
software assets included its Home IT, advanced digital video broadcasting (DVB),
MPEG4 software player, SDK software, and software drivers. As part of this
acquisition, MediaTek hired approximately 75 software-related personnel, all
former employees, primarily from TVIA's China subsidiary.
TVIA's advanced display processors intensify a
viewer's experience through its expertise in creating the simultaneous
presentation of multiple independent media streams on one or more displays.
These processors can accept video, graphics, and audio signals from terrestrial
broadcast, narrow band telephone lines, cable, satellite, and the Ethernet, to
deliver, superior quality, interactive picture and audio.
These semiconductor products are primarily targeted
for the advanced television and emerging display markets. These products can
enable and enhance services as video-on-demand (VOD), electronic programming
guides (EPGs), security systems, videoconferencing, and numerous applications
for picture-in-picture and multiple image displays.
About MediaTek
MediaTek Inc., a leading provider of total
solutions for optical storage and digital consumer semiconductors, was founded
in 1997 and is headquartered in the Hsin-Chu Science Park, Taiwan, Currently one
of the world's top five IC fabless design companies, and the largest chipset
supplier in the world of CD-ROM, DVD-ROM, CD-RW, and DVD players, the company's
common stock is traded on the Taiwan Stock Exchange under the code "2454."
Information in this release that involves Tvia's
expectations, beliefs, hopes, plans, intentions, or strategies regarding the
future are forward-looking statements that involve risks and uncertainties.
Forward-looking statements in this press release include, but are not limited to
Tvia's ability to focus on its emerging display applications, decreased burn
rate, and the ability to achieve profitability. These forward-looking statements
are subject to risks and uncertainties that may cause actual results to differ
materially, including but not limited to, the ability of customers to
incorporate Tvia's products into their products, the impact of alternative
technologies and competitive products, and other risks detailed from
time-to-time in Tvia's reports filed with the Securities and Exchange Commission
("SEC"), including its annual report on Form 10-K for the year ended March 31,
2003, filed with the SEC on June 24, 2003, and in other reports filed from time-
to-time with the SEC. These forward-looking statements speak only as of the date
hereof. Tvia disclaims any intent or obligation to update these forward-looking
statements.
Source: Yahoo.com
