ESS Technology has reportedly sold its HD-DVD and Blu-ray technologies to the Hong Kong-based electronics distributor, SiS Holding Ltd., for $13.5 million. The agreement includes the sale of certain tangible assets, licensing of related intellectual property and the transfer of associated employees.
Digital video processor vendor ESS Technology Inc. has sold its HD-DVD and Blu-ray Disc DVD technologies and related assets to SiS Holding Ltd., a Hong Kong-based electronics distributor, for $13.5 million, ESS said Friday (Feb. 16).
ESS (Fremont, Calif.) said it would cease operation of its camera phone business and pursue licensing of its image sensor technology and patents. The company said this action would reduce operating expenses by roughly $2 million per quarter.
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