Tuesday, January 27, 2009

Leadis Sells Display Driver Business

Sunnyvale-based Leadis Technology said Monday that it has sold its display driver business to AsTEK, Inc., in a deal worth $3.5M in cash plus $0.5M in assumed liabilities. Leadis, which develops analog and mixed signal semiconductors, said it will retain rights to most of its current display driver products in production and specific AM-OLED display technology. The firm said the move came as it looks to "significantly reduce expenses to preserve cash."