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Looking to branch out into DVD and digital camera components, NeoMagic Corp. (NMGC) acquired intellectual property from two companies last week.
The chip designer purchased the optical drive development group and DVD intellectual property from Mitel Semiconductor of Manchester, England for an undisclosed amount. NeoMagic also purchased the intellectual property of Tel Aviv, Israel-based ACL from Robomatix Technologies Ltd. (RBMXF) for an undisclosed sum.
The chip designer will combine the technology and IP of Mitel with its own work to bring embedded DRAM into the DVD electronics business. Such high-level integration is one reason NeoMagic has become the leader in notebook graphics chips.
The two companies have been working together for over a year.
The ACL deal brings 10 engineers and researchers with image processing expertise to NeoMagic.
In earnings news, for the quarter ended Jan. 31, 1999, NeoMagic reported a 61 percent increase in sales compared to the year-ago period. Net income was $9 million or 34 cents per...