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GIGABYTE and ASUS Set Aside Joint Venture Agreement

GIGABYTE and ASUS Set Aside Joint Venture Agreement news post from TweakTown's online news computing and technology content pages
| Posted: Mar 26, 2007 11:05 pm

7 months after their decision to join up with ASUS and fire up a subsidary company dubbed "GIGABYTE UNITED", GIGABYTE have decided to pull the plug on the venture for now, both companies agreeing that recently evolving market conditions amongst other concerns play a big role in the decision to halt this venture, at least for the time being.


More details within GIGABYTE's press release here.


Taipei, Taiwan, March 22, 2007 -- GIGABYTE Technology Co., LTD (Stock Code: 2376) and ASUSTek Computer Inc. (Stock Code: 2357) have announced to set aside the joint venture agreement between both companies established on the 8th of August, 2006.


In December 2006, GIGABYTE Technology transferred the relevant assets and businesses of its own branded motherboards and VGA cards to its newly established subsidiary, GIGABYTE UNITED. According to the terms of the joint venture, ASUSTek planned to invest NT$ Four Billion Dollars into GIGABYTE UNITED and would receive 49% of shares in the new entity, with GIGABYTE Technology maintaining 51%.


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