Part of a graphics push
HTC has an agreement with Via Technology to buy its S3 Graphics technology. The deal will cost the Taiwanese company $300 million and will mean that HTC will have proprietary hardware technology to equip their smartphones, and tablets.
Via Technology, for its part, will continue to use its patents to develop and market new solutions on the market. Of the 300 million dollars, 147 and 153 will go to Via Technology to WTI International Investment which is an investment company.
Dr. Ken Weng, CEO of S3 Graphics said that S3 Graphics’ technology has been implemented in more than one billion computers, game consoles and mobile devices worldwide.” S3 Graphics is a private company owned by VIA Technology.
The proposed transaction has received approvals from the boards of directors of HTC, WTI and VIA. Subject to regulatory approvals and other customary conditions, the transaction is expected to close before end of 2011.