Movidius signs $25 million Chinese partnership deal

SAN JOSE, Calif. – Fabless mobile multimedia chip company Movidius Ltd. has signed a deal with electronics manufacturer Keen High Technologies Ltd. that is expected to generate more than $25 million of equipment sales over the next three years, according to reports.

Under the terms of the partnership deal Movidius (Dublin, Ireland) – which has developed image and multimedia processors – and Keen High (Shenzhen, China) will work together on high volume consumer electronics products. The deal was announced during the visit of an Irish government trade delegation to China.

Keen High, which is publicly traded on the Taiwan's emerging stock market under stock number 3651, provides design and manufacturing services and its products include mobile phones, tablet computers, e-book readers and digital picture frames amongst others. Keen High employs over 2,300 people and had sales revenue in 2009 of $150 million and of $170 million in 2010.

"Our ultra low power Myriad media processing platform has enabled us to develop novel products for both the mobile and consumer markets, With their vast experience in mass producing consumer products, Keen High is a great manufacturing partner for us in bringing these products to market for customers around the world," Paul Costigan, chief operating officer of Movidius, is quoted saying in a Silicon Republic report.

Movidius recently announced deals with poLight AS (Horten, Norway) on autofocus camera assemblies and with Toshiba Electronics Europe on a reference design of 3-D image capture system for integration by camera module makers and for use in smartphones. Movidius announced it had raised $9 million in a Series C round of finance back in November 2011. This brings the total amount raised across three rounds since the company's formation in 2005 to more than $30 million.

Movidius entered the Silicon 60, EE Times' list of emerging startup companies at version 10.0 in April 2010. The latest edition of the Silicon 60 is version 12.5, which is the subject of a detailed technology and employment digital edition which can be accessed via
http://e.ubmelectronics.com/Silicon60/index.html


Related links and articles:

www.movidius.com

www.keenhi.com


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