Man, Wen-Chi Chen is smart! Absolutely brilliant strategy, IMHO.
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VIA Technologies to Acquire IDT's Centaur Design Subsidiary
Companies to Cross-License Technology
SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 4, 1999--VIA Technologies, Inc. and IDT, Inc. (Nasdaq:IDTI - news) today announced they have signed a letter of commitment for VIA to acquire certain assets of IDT's Centaur design subsidiary, including intellectual property (IP) related to WinChip microprocessor technology and the x86 microprocessor design team located in Austin, Texas. This agreement follows the July 14, 1999 announcement that IDT will exit the x86 microprocessor market.
''VIA's acquisition of IDT's Centaur design subsidiary further solidifies our design capability in the x86 arena,'' said Wen-Chi Chen, President of VIA Technologies. ''This represents an exciting step forward in our vision to connect with our industry partners.''
''We are pleased that VIA values the considerable intellectual property, products and design team embodied in IDT's Centaur design subsidiary,'' said Len Perham, CEO of IDT. ''This transaction will complete IDT's exit from the x86 market that was announced last month. It will enable IDT to intensify its focus on the company's core communications business.''
VIA and IDT have also entered into a patent cross-license agreement, allowing each company to utilize IP covered by the other's patents, including those Centaur patents acquired by VIA in the above transaction. This cross license extends over the life of these patents.
About VIA
Founded in 1987, VIA Technologies, Inc. headquartered in Taipei, Taiwan, designs, engineers and manufactures cost-effective, highly integrated, high functionality system logic chipsets and associated peripherals for manufacturers of desktop and portable PC systems.
About IDT
IDT enables a digitally connected world by providing innovative semiconductor solutions to leading-edge system designers in communications and computing. IDT's broad product mix consists of communications memories, networking devices, RISC microprocessors, high-speed SRAMs, high-performance logic and clock management products.
Headquartered in Santa Clara, Calif., the company employs approximately 4,700 people worldwide and has manufacturing facilities in California, Oregon, the Philippines, Malaysia and Australia. IDT stock is traded on the Nasdaq stock market under the symbol ''IDTI.'' Additional information about IDT is easily accessible through the Web (www.idt.com), CD-ROM by calling 800/345-7015 or via fax-on-demand at 800/9-IDT-FAX. The investor hotline is 408/654-6420.
Forward-looking statements in this release involve a number of risks and uncertainties including, but not limited to, product demand, manufacturing, capacity and costs, competition, pricing, patent and other intellectual property rights of third parties, timely development and supply of new products and manufacturing processes, availability of capital, cash flow and other risk factors detailed in the Company's Securities and Exchange Commission filings. Actual results may differ materially from the Company's projections.
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