News

STMicroelectronics Buys Ravisent Unit

1/18/2001 8:22 AM Eastern

Europe-based silicon giant STMicroelectronics has inked a deal to purchase
the consumer-electronics division of Ravisent Technologies Inc. for $55 million,
propelling the chip maker into the set-top and Internet-appliance business.

Ravisent's consumer-electronics division also owns a batch of
digital-television and Internet-browser software.

ST said the acquisition of Ravisent's consumer-electronics unit marks another
step toward a plan to build a complete 'system-on-chip' platform for digital
consumer devices.

Intel Corp., another silicon vendor, has also changed gears, moving its
product beyond chips and into consumer electronics.

Pending regulatory approvals, the deal is expected to close this quarter, the
companies said.

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