D&M Holdings Inc. announced today it has signed an agreement to sell certain intellectual property and other technology assets of the Rio MP3 player business to SigmaTel, Inc., Apple’s supplier of integrated circuits for the flash-based iPod shuffle music player.
As part of the agreement, SigmaTel will hire most of the technical development personnel of Rio. Meanwhile, Rio will retain full access to its MP3 technology that it has agreed to sell to SigmaTel via a no-fee, grant-back license conditioned on its use of the SigmaTel platform in MP3 products, Tokyo-based D&M Holdings said in a statement today.
Read the complete story. (AppleInsider)