Scientific-Atlanta Buys Out Other Shareholders in Chinese R&D Venture
Digital TV equipment vendor, Scientific-Atlanta, says it is expanding its commitment to the emerging Chinese DTV market. The company revealed last week that it has bought out the other shareholders in its 12-year-old Scientific-Atlanta Shanghai Ltd. joint venture, and that the latter will now function as a wholly owned subsidiary of Scientific-Atlanta China. Financial terms of the deal have not been disclosed. Scientific-Atlanta says that the subsidiary will focus on research and development of DTV technology for the Chinese market and for the Asian market as a whole. "This acquisition underscores the importance of the market in China and our belief that a strong local R&D presence will enable us to design, develop and deliver products with focused, market-driven features," Raghu Puri, the newly appointed general manager of Scientific-Atlanta Shanghai, said in a prepared statement.
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