💨 Abstract

Philips, a healthcare technology company, has sold its loss-making Xiver computer chip subsidiary to a consortium led by Orange Mills Ventures. Xiver specializes in MEMS (micro-electromechanical systems) and supplies ASML and French defense company Lynred. Philips previously sold most of its semiconductor businesses, focusing now on healthcare equipment. Financial details were not disclosed.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖