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MALVERN - Since incorporating in April 1994, Ravisent Technologies Inc. has changed its name three times and its business model at least once.
Now, the developer of digital video/audio and Internet appliance software is ridding itself of business divisions.
On March 21, Ravisent announced an agreement to sell the assets of its Internet appliance business to Phoenix Technologies Ltd. for roughly $18 million.
That was 20 days after Ravisent closed the sale of the assets of its consumer electronics business, including 80 employees, to STMicroelectronics for $55.1 million.
The two sales gave Ravisent some much needed cash, but reduced its size and product offerings substantially. And in the press release announcing the Phoenix sale, Ravisent gave an indication that some more reduction might be in store.
"Ravisent is currently investigating alternatives to leverage the strength of its balance sheet, its managerial expertise and its intellectual property," the company said.
Frank Wilde, Ravisent's president and chief executive officer, was traveling and couldn't be reached for comment about the company's intentions.
But in an e-mail,...