Multimedia semiconductor and solution provider Vimicro International Corporation announced on Friday that its joint venture Vimicro Electronics Corporation (Vimicro Tianjin) has entered into a definitive agreement to acquire Video Surveillance System (ViSS) from Alcatel-Lucent Shanghai Bell Ltd Co (ASB).
The financial terms of the agreement were not revealed.
ViSS is a security and surveillance solution addressing the needs of telecom operators and local governments in China.
According to the company, Vimicro Tianjin will acquire the complete ViSS business including all property, plant and equipment, inventories, business contracts, intellectual property and service and development capabilities in China.
Vimicro and ASB will continue the cooperation on solution and marketing developments in the future.
The acquisition is expected to be completed in September 2009, subject to customary closing conditions.
Alcatel-Lucent Shanghai Bell is a company of Alcatel-Lucent in Asia.