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|17th March 2005, 22:18||#1|
Join Date: May 2002
ATI Acquires Audio Solutions Designer CuTe
ATI Technologies announced it had closed acquisition of CuTe Solutions, an India-based designer of audio and digital media software and algorithms. The move is inline with ATI’s recently proclaimed strategy to make certain acquisitions in order to broaden the company’s portfolio in rapidly growing markets.
“With CuTe’s expertise in audio, our customers can look to ATI for the industry's best integrated multimedia solutions,” said Adrian Hartog, Senior Vice President and General Manager, Consumer Business Unit, ATI Technologies Inc.
CuTe Solutions is based in Hyderabad, India, and develops variety of software, firmware, encoding libraries, algorithms and various other solutions for audio and multimedia applications. The developer did not design any actual chips, but has been involved into development of software that utilizes their capabilities.
CuTe's offices in Hyderabad will also form the basis of ATI's new research and development centre in India, ATI Technologies India Private Limited. ATI will retain CuTe's staff and plans to hire additional engineering resources.
Earlier this year ATI Technologies and Terayon Communication Systems signed a definitive agreement for ATI to acquire Terayon’s cable modem silicon intellectual property and hire approximately twenty-five employees from Terayon's design team.
At the company’s annual shareholder meeting ATI’s CEO Dave Orton indicated plans to make certain acquisitions in consumer electronics area.
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