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Appeared on: Monday, February 10, 2003
Oak and Sunplus announce optical storage joint venture

As DigiTimes report "...On February 5, Oak Technology, a leading provider of embedded solutions for the HDTV, digital imaging, and optical storage markets, announced that it had signed a definitive agreement with Sunplus Technology, a publicly held fabless integrated circuit design house focused on the consumer market and based in Taiwan.

and continues "...Under the terms of the agreement, Oak will transfer its optical storage business and certain optical storage assets in return for approximately US$30 million, which includes US$16 million in cash and the equivalent of US$14 million in shares of Sunplus common stock. In addition, Oak will make a capital contribution to become a minority investor in a new spin-off company. Further financial terms of the agreement were not disclosed..."

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