By Ron Coates, 7 June 2004 13:25
NEWS Mobile multimedia specialist Emblaze is selling off its fabless-chips-for-mobiles arm to US-based consumer electronics specialist Zoran for $54.2m in cash.
Emblaze Semiconductor made a loss of $9m last year but Zoran says that the move will give it a foothold in the multimedia mobile phone market. Zoran is a significant player in DVD, video and digital camera technology.
Emblaze CEO Eli Reifman said in a statement: "I believe it is prudent for us to monetise our non-core assets and enable the group to focus its efforts on its core competency of selling end-to-end server and handset solutions to global operators."
The company still has about $250m left from its successful IPO but it has yet to make a profit despite significant contract wins in the Far East. Last March, Reifman predicted 100 per cent growth for the company.
The group now consists of Emblaze Mobile, a rich media mobile design house; Emblaze Systems, the wireless multimedia specialist and Orca, the interactive television specialist.
Earlier this year, Emblaze supplied a video phone offering over 30 minutes of video recording to Israeli mobile operator Partner, which is part of the Orange empire.
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