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Creative Technology divests Super X-Fi asset for $6.4m
Upon completion of the sale, the company will see a net gain of $3.8m.
Creative Technology will sell its Super X-Fi audio technology-based assets for $6.4m (US$5m) to Zeica Labs.
The group said the transaction is in line with the strategic direction the company has undertaken to streamline its business.
According to Creative, it will receive $1.2m (US$1m) in ten monthly instalments and take a 40% stake in Zeica Labs.
Upon completion of the sale, Creative will see a net gain of $3.8m (US$3m) and use the proceeds for its working capital.
($1=US$0.77)
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