LONDON – Spreadtrum Communications Inc., a leading Chinese fabless chip company, has disclosed that it has paid $1 million to acquire Telegent Systems Inc., a developer of mobile television receiver chips, net of cash that Telegent was holding.
The exact size of Telegent's cash pile is not known but it was reported to have been holding many tens of millions of dollars in the months preceding the sale to Spreadtrum.
Leo Li, chairman, president and CEO of Spreadtrum (Shanghai, China), said his company has gained a portfolio of about 70 patents and 15 hardware and software engineers based in Shanghai and San Diego and that it would explore the design of a baseband processor with integrated mobile TV. Li was speaking on a telephone conference call with analysts to discuss the company's second quarter financial results.
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