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Visteon Corporation Forms Strategic Alliance With iBiquity Digital Corporation
Dearborn, Mich. (ots-PRNewswire) - In keeping with the mission of the corporation's new Telematics/Multimedia business system to pursue a greater share of the market, Visteon Corporation (NYSE: VC) has formed a strategic alliance with iBiquity Digital Corporation, a new company being created from the merger of USA Digital Radio and Lucent Digital Radio.
As part of this alliance, Visteon will develop a working prototype concept radio using iBiquity's digital AM and FM broadcast technology for incorporation into future radio platforms.
In addition, Visteon will make its Digital Signal Processing (DSP) technology available to select radio chip manufacturers for sale to radio set makers. This technology will act as an enabler to iBiquity's in-band on- channel (IBOC) digital radio broadcast technology.
By allowing the digital signal technology to be broadly deployed, Visteon will help iBiquity bring digital radio broadcasting more quickly to market within North America. Additionally, Visteon will consult with iBiquity to merge the DSP technology with IBOC technology as part of its prototype radio development efforts.
Visteon will take an ownership stake in the company, whose owners will include Lucent Technologies and 15 of the nation's top 20 radio broadcasters, including Viacom, Inc.'s, Infinity Broadcasting Corporation, and Clear Channel Communications, Inc.
"This is a prime example of the strategic alliances we are forming to support our new telematics and multimedia group," said Jim Wynalek, vice president and general manager of Visteon's Telematics/Multimedia business system. "By making our technology widely available and leveraging our expertise in audio systems, we are in a great position to lead the deployment of radios capable of receiving digital broadcast. Through this alliance with iBiquity, Visteon is taking advantage of its technological leadership and position as the world's largest manufacturer of radio head units to pave the way for the next generation of audio and wireless data systems."
Today, radio in the United States is broadcast using analog signals. Digital radio broadcast technology will enable consumers to receive a digital signal, capable of containing CD-quality audio with crystal clear reception and additional wireless data for a variety of consumer applications such as station and program content, stock and news information, local traffic and weather.
Visteon will showcase its alliance with iBiquity Digital Corporation at Convergence 2000 in Detroit, Mich., in October.
Visteon Corporation is a leading full-service supplier that delivers consumer-driven technology solutions to automotive manufacturers worldwide and through multiple channels within the global automotive aftermarket. Visteon has a global delivery system of more than 130 technical, manufacturing, sales, and service facilities located in 23 countries. It has 81,000 employees working in three business segments: Dynamics and Energy Conversion; Comfort, Communication and Safety; and Glass.
The information set forth above contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995), which involve a number of risks and uncertainties. Readers should refer to the discussion under "Risk Factors" contained in Visteon's Registration Statement on Form S-3 (No. 33-40034) filed with the Securities and Exchange Commission concerning some important factors which could cause Visteon's actual results to differ materially from the results anticipated in the forward-looking statements contained herein.
ots Original Text Service: Visteon Corporation Internet: http://recherche.newsaktuell.de
Contact: Media Inquiries: Liane Smyth, phone: (USA) 313-755-2916, firstname.lastname@example.org, or Investor Inquiries: Kent Niederhofer, phone: (USA) 313-755-3699, email@example.com, both of Visteon Corporation
Web site: http://www.visteon.comOriginal-Content von: Visteon Corporation, übermittelt durch news aktuell