PC BIOS vendor Phoenix Technologies will spin off its semiconductor intellectual property division, creating a separate company.
The move is designed to let Phoenix management focus more resources on enhancing its software products and developing its new Internet-content venture.
As part of the plan, Phoenix said it will reduce its emphasis on certain technology gained in its recent acquisition of Sand Microelectronics. The move will result in a $4.9 million non-cash charge in the fourth quarter.
The story appears at www.techweb.com.