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restructured agreement with VIA - restructured agreement with VIA
Tue Aug 29, 2000 | 4:53P| PermaLink
"Santa Clara, CA - August 29, 2000 - S3r Incorporated (NASDAQ: SIII) announced today that it has signed a restructured agreement with VIA Technologies (TAIEX: 2388) to complete the transfer of S3's graphics chip assets into a new venture. The restructured agreement addresses accounting-related concerns expressed by the Taiwanese government that had previously delayed the closing of S3 and VIA's original agreement. The strategic aspects of the new agreement structure remain as originally announced, while certain accounting considerations have been revised by accelerating the payment schedule and restructuring the transfer of certain assets and liabilities that are not directly related to graphics chip development. S3 has also eliminated in the revised agreement certain obligations to provide continued support for the graphics chip manufacturing operations that were provided for in the previous version of the agreement.."

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