NEC, Matsushita and TI form Joint Venture for 3G/3.5G

NEC, NEC Electronics Corp., Matsushita, Panasonic Mobile Communications and Texas Instruments will establish a new joint venture company to conduct global development, design, and technology licensing for a hardware and software communications platform to manage the core communications functions for mobile handsets for 3G/3.5G and beyond.



The new company, Adcore-Tech, will be based in Yokosuka, Japan and have 180 employees initially. The five companies will jointly invest 12.0 billion yen in the new joint venture, with approximately 44 percent held jointly by NEC and NEC Electronics, approximately 44 percent held jointly by Matsushita and Panasonic Mobile, and approximately 12 percent held by Texas Instruments. http://www.necel.comhttp://panasonic.net