OPTi sells semiconductor business

OPTi Inc., a designer and manufacturer of controller chips for LCD panels, PCI, USB, and IEEE1394 interconnect, and microprocessor interconnect (core logic), has sold its semiconductor business to OPTi Technologies Inc. Opti Technologies is an unaffiliated company formed to acquire the semiconductor business for about $700,000 in cash plus future royalties.

"This deal eliminates our risk in inventory and accounts receivable if the semiconductor market continues to have weakness and provides the company with a revenue stream in the future," stated Bernard Marren, CEO and president of OPTi. "The sale also allows for the company to continue reducing operating expenses as we focus on what we perceive to be the true value to our shareholders, which is our IP."