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STMicroelectronics N.V.

STMicroelectronics N.V.

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Publicatie datum 23 apr 2012 - 16:16
Statutaire naam STMicroelectronics N.V.
Titel STMicroelectronics Announces its Next Step in Multimedia Convergence
Bericht Geneva, April 23, 2012 – STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced today the next step in its multimedia convergence strategy, which will focus on offering a single application processing platform to serve a broad range of multimedia devices like set-top-boxes, TVs, cars, smartphones and tablets. ST signed an agreement with ST-Ericsson on the development of future application processors. Under the terms of the agreement, ST will take on ST-Ericsson’s application processor development R&D activity and then license back its technology to ST-Ericsson for integration into their ModAps (competitive integrated modem plus application processor solutions) for smartphones and tablets. Additionally, the two companies entered into a commercial agreement to jointly promote and offer stand-alone application processors and thin modems to a broader range of customers working across the entire spectrum of electronics applications. The partnership contemplates the transfer to ST of highly skilled employees from ST-Ericsson, joining forces with the current ST R&D teams working on application processors. The agreement includes a transitional cost sharing model, followed by a royalty scheme from ST-Ericsson to ST. This transfer is subject to the completion of consultations with work councils and employee representatives, which ST currently estimates to be completed by July 1, 2012. The partnership with ST-Ericsson is part of a wider new strategic direction announced today by our joint venture aiming to offer, through a combined approach of development and partnerships, competitive integrated ModAps, in addition to capturing a total of $320 million of annual savings from their new and on-going restructuring plans. The expected ST-Ericsson savings will benefit ST’s consolidated results, starting in Q3 2012, through the completion of the savings plans by the end of 2013.

Datum laatste update: 06 oktober 2024