INDIA: PHILIPS MAKES EQUITY INVESTMENT IN ISHONI NETWORKS.(Royal Philips Electronics acquires majority interest)(Brief Article)(Statistical Data Included)

IPR Strategic Business Information Database, February, 2002

Royal Philips Electronics announced that it has made a $25 million equity investment for 51 percent majority interest in Ishoni Networks, a silicon and software solution provider for broadband Customer Premise Equipment (CPE) and devices. Ishoni Networks is headquartered in Santa Clara, California, with a development site in Bangalore, India.

The Philips investment includes agreements for joint product development, joint sales and marketing activities, and manufacturing. It is expected to result in an accelerated effort to expand a portfolio of silicon system solutions for broadband CPE with advanced networking, voice and security functionality for "last mile access" and in-home networking. Philips Semiconductors and Ishoni Networks are working together to create...