Intel invests in HK Net access deal.
Published:
4 August 1999 y., Wednesday
Computer chip giant Intel Corp. said Sunday it was investing in a new joint venture with Hong Kong-based Pacific Century Group in an effort to bring high-speed Internet access to Asia. Under the deal, Intel_s existing joint venture with Pacific Century, known as Pacific Convergence Corp., would be folded into a new company, Pacific Century CyberWorks, Claude Leglise, vice president of Intel_s home products group, said in an interview. Pacific Century Group, a private company controlled by Richard Li, the youngest son of Hong Kong tycoon Li Ka-shing, is creating CyberWorks out of its acquisition of telecommunications firm Tricom Holdings Ltd. Intel would invest $50 million (HK$389 million) in CyberWorks and would also supply chips, software and systems to form the backbone of the new company_s broadcast and Internet business. Leglise said the deal would help Intel get a foothold in Asia_s Internet growth, and resembled a deal announced in June to supply U.S. telecommunications firm Hughes Network Systems Ltd. with chips for set-top boxes that will combine satellite TV with speedy Internet access.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission has decided to grant an extension of the deadline for the divestment of Fortis' corporate banking business, consisting of Hollandsche Bank Unie N.V. (HBU), two corporate client departments, 13 "Advieskantoren" and ABN AMRO's Dutch factoring activities to Deutsche Bank.
more »
MEPs will vote on an emergency plan to help the crisis-stricken sector dairy sector on Thursday after the Agriculture Committee approved the Commission's proposal on Monday evening in Strasbourg.
more »
The EBRD is boosting competition in the Montenegrin retail sector with a loan to expand the supermarket network of one of the leading retailers in the country.
more »
Redmond, Wash. — Oct. 16, 2009— On Oct. 19, Microsoft CEO Steve Ballmer heads to the sold-out Microsoft sharepoint Conference in Las Vegas where he will address more than 7,000 sharepoint customers, partners and developers.
more »
Proposals tabled for collaboration on sea surveillance, bigger EU role in global maritime affairs and sustainable fishing.
more »
$50 million financing package for agricultural commodities operator.
more »
Seeking to increase sheet-metal production volumes, Stansefabrikken decided to move all company’s production from Lillesand (Norway) to Stansefabrikken’s successfully operating factories in Lithuania.
more »
The European Economic and Social Committee (EESC) and the European Commission Representation in Finland jointly organise a conference in Helsinki on 22 and 23 October on "The Baltic Sea Region: the best place to work and do business".
more »
Why did economy rise drastically turn into painful decline and what price will every of us have to pay for that?
more »
The economies of central and eastern Europe are expected to contract by an average of 6.3 per cent in 2009 following steep output declines in the first half of the year.
more »