"Transmeta Bolsters Commitment to China with Midori Linux Agreement
Thursday June 12, 8:07 pm ET
Announces Equity Stake in Chinese 2000 Holdings Ltd.
SANTA CLARA, Calif. & HONG KONG--(BUSINESS WIRE)--June 12, 2003--Transmeta Corporation (Nasdaq:TMTA - News), the leader in efficient computing, today announced it has entered into an agreement to allow Chinese 2000 Holdings Ltd. to develop and market Transmeta's Midori(TM) Linux version of the Linux operating system for mobile and embedded devices in China and other countries in the Asia-Pacific region.
The agreement exemplifies Transmeta's aggressive push into the Chinese market and other key Asia-Pacific countries. Transmeta is targeting the region as a significant aspect of its growth plans, and the collaboration between the two companies on Midori Linux development and marketing focuses on China, Hong Kong, Macau and Taiwan.
Linux has emerged as an important operating system in China and the region. To help capitalize on that growth, Transmeta is combining its Linux expertise with that of Chinese 2000 Holdings to support a range of innovative mobile and embedded products that are already implementing or plan to use Transmeta's energy efficient processors. These products include competitively priced notebooks, ultra personal computers and set-top boxes, as well as many other potential applications.
"One of Transmeta's top priorities is to support customer needs in the Chinese market and other major Asian regions," said Dr. Matthew R. Perry, president and CEO, Transmeta Corporation. "Transmeta's unique combination of microprocessor, system-level and Linux expertise, coupled with Chinese 2000 Holdings' experience in the Asian markets, make a formidable partnership. Together, we offer our customers a comprehensive approach to Linux-based computing."
In addition to the development and marketing arrangement between the two companies, the agreement provides Transmeta with an equity ownership in Chinese 2000 Holdings and a multi-year profit sharing arrangement relating to the sale of Midori Linux-based services and support."
That, in the context of:
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