Pair Giving Digital Standard A Tri

30-Mar-00

Royal Philips Electronics NV and Sony Corp. said they will form a company to create an industry standard for digital consumer products. No financial details were disclosed. The new company, TriMedia Technologies Inc., will design processors and software to help companies quickly develop new digital consumer products from televisions to set-top boxes and video recorders. Philips and Sony will be the first investors, with other consumer-electronics companies expected to invest soon. Philips will contribute assets from its semiconductor division and 70 people for the new Silicon Valley-based company. Source: Bloomberg News and The Hollywood Reporter