VIMC - Vimicro International Corp

Vimicro International Corporation (Vimicro) is a multimedia semi-conductor and solution provider. The Company designs, develops and markets mixed-signal semiconductor products and system-level solutions that enable multimedia capabilities in a variety of products for the consumer electronics, communications and surveillance markets. It also designs, manufactures and sells security and surveillance products and develop security and surveillance software in China. Vimicro provides the customers with system-level solutions that include integrated semiconductors, customizable firmware and software, software development tools, reference designs and applications support. The Company has designed its solutions to support a range of standards, baseband platforms and components in order to facilitate its customer's designs, assembly and supply chain management processes

Vimicro Signs Agreement for $29.5 Million Asset-Backed Loan
19 days 15 hours 27 minutes ago - Close-Up Media via Comtex
Vimicro International (Vimicro), a multimedia semiconductor and IP-based surveillance solution provider, announced that the Company signed an agreement for a $29.5 million (RMB 186 million) asset-backed loan with China Construction Bank (CCB).

According to a release, the loan has a five-year term with an annualized variable interest rate equal to 105 percent of the benchmark lending rate designated by the People's Bank of China (currently 6.9 percent).

Under the terms of the loan agreement, the proceeds will be used to fund the research and development of SVAC (The Surveillance Video and Audio Coding) project, including the construction and outfitting of an R&D facility.

Vimicro said the first disbursement of RMB 30 million has already been transferred to the Company.

"We are pleased to enter this loan agreement with China Construction Bank," stated Kevin Jin, Vimicro's President and COO. "The SVAC Project is a key project for Vimicro's future growth and development in the domestic surveillance market. With this timely financial support, we are confident that we can successfully and efficiently complete the project's construction. We will strictly honor our commitments to CCB and look forward to making the SVAC Project a key driver for Vimicro's future growth."

Vimicro and Samsung Form Strategic Partnership to Develop Products for the China Security Surveillance Market
3 days 8 hours 30 minutes ago - PR Newswire via Comtex
Vimicro International Corporation (NASDAQ: VIMC) ("Vimicro" or the "Company"), a leading multimedia semiconductor and IP-based surveillance solution provider, today announced the signing of a strategic cooperative agreement (the "Agreement") with Tianjin Samsung Techwin Opto-Electronic Co., Ltd. outlining broad-based cooperation in the areas of technology, products, and business development. Tianjin Samsung Techwin Opto-Electronics Co., Ltd. ("Samsung") is a joint venture that was founded by Samsung Techwin Co., Ltd. and Tianjin Zhonghuan Electronic Information Group in 2008.


Through this strategic partnership, Vimicro and Samsung will engage in comprehensive cooperation, collaborating both domestically and internationally on technology, products, and business practices, as well as jointly developing products for the China security surveillance market. For example, the companies will jointly focus on improving sales of Samsung's front-end surveillance equipment and Vimicro's ViSS large-scale video surveillance platform and NVR bulk-storage network video storage and management platform.

According to the Agreement, Samsung and Vimicro will improve the compatibility of their respective existing network-based surveillance products and jointly develop new functions with broader compatibility. In terms of technology and product development, Samsung will primarily focus on front-end surveillance equipment and Vimicro will primarily focus on security surveillance system platform development.

"We are pleased to have established this important strategic partnership with Samsung," said Mr. Jiaowei (Kevin) Jin, Vimicro's President and Chief Operating Officer. "By leveraging Samsung's world-class technology and R&D capabilities along with our domestic leading market position, we look forward to developing even more-advanced security surveillance products and integrated solutions for our industry clients, as well as expanding the Chinese security surveillance market."

interesting past couple days...up hard off supp but didnt hold well