STMicroelectronics completes acquisition of Genesis Microchip
(Business News, 11 Feb 2008 )
STMicroelectronics has performed all necessary steps to complete its acquisition of Genesis Microchip Inc. and has therefore concluded the acquisition. Through this acquisition, STMicroelectronics expects to expand its leadership in the $1.5 billion digital TV market, one of the fastest growing segments in consumer semiconductors. Genesis Microchip will enhance STMicroelectronics’ technological capabilities for the transition to fully digital solutions in this segment and strengthen its product and intellectual-property portfolio.
Genesis will be integrated into STMicroelectronics’ Home Entertainment & Displays Group. Elias Antoun, the Chief Executive Officer of Genesis, has joined STMicroelectronics and will lead STMicroelectronics’ television and display initiatives, reporting to Philippe Lambinet.
