S3 to Transfer Graphics Chip Biz to Via-S3 JV

WASHINGTON (04/11/2000) - S3 Inc. today announced that it will transfer its graphics chip business to a joint venture it recently established with Via Technologies Inc. and will relaunch itself as an Internet appliance company.

The deal is worth approximately US$323 million in cash and securities, S3 said.

In what company executives described as a new chapter in S3's history, aimed at transforming S3 from a graphics-focused semiconductor supplier to an Internet appliance company, the company will refocus on its Internet appliance businesses, including its Rio MP3 digital music player acquired last year through its purchase of Diamond Multimedia, [See "S3 Plans to Buy Diamond Multimedia," June 22, 1999.], and a line of home network products.

(More details to follow.)

S3, in Santa Clara, California, can be reached at +1-408-588-8000 or on the Web at http://www.s3.com; Via Technologies, in Taipei, can be reached at +886-2-2218-5452, or on the Web at http://www.via.com.tw/.

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