Processor company VIA Technologies has agreed to sell its share in S3 Graphics to HTC Corporation. HTC is paying $300 million for the deal; VIA will receive $147 million and WTI Investment International will receive $153 million.
S3 Graphics provides graphics technologies that are used in PCs, game consoles and mobile devices. VIA acquired S3 Graphics in 2001 and later introduced WTI as a new investor.
Tzu-mu Lin, Senior Vice President and Board Director of VIA, said “The transaction would allow VIA to monetize a portion of its rich IP portfolio, yet retain its graphics capabilities to support the development and sale of its processors and chipsets. We wish to thank WTI for its capital contribution to support S3 Graphics since 2005.”