July 11, 2007 -- Chips&Media, a leading video IP provider, and Mtekvision, a leading digital multi media semiconductor company, have decided to build a strategic alliance for Mtekvision’s next generation applications. Since 2005, based on a long-term portfolio licensing agreement, Chips&Media has provided Mtekvision with a number of video IP solutions. Under this new strategic alliance, both companies will meet on a quarterly basis to review multimedia IP specification requirements for new classes of high quality and low power portable and mobile video devices. Chips&Media, Inc. is a leading video multi-standard video codec solution provider, based in Seoul, Korea (Republic of). Chips&Media’s video codec technologies cover the full line-up of video standards such as MPEG-2, MPEG-4, H.263, H.264/AVC, RV and VC-1 from CIF to HD resolution. The company has been providing its advanced ultra low power multi-codec video IP's to top-tier semiconductor companies including Freescale Semiconductor as well as semiconductor companies based in Korea, Taiwan, China and Japan.