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Vialta Seeks Possible Sale

6/10/2004 12:30:00 PM Eastern

Fremont, Calif.— Vialta has retained the investment banking and asset management firm of Needham & Company Inc. "to explore a range of strategic alternatives," including the "possible sale of the company" in an effort to further grow its business, according to a statement released by the company today.

Vialta manufacturers the Beamer line of videophone products.

According to the statement, Vialta's board is seeking "strategic opportunities" to provide the resources necessary to exploit the company's potential and maximize shareholder value.

"Vialta has no outstanding debt and more than $24 million in cash, cash equivalents and short-term investments," said Didier Pietri, Vialta's president/CEO.

Vialta’s products are currently selling in over 1,500 retail locations, Pietri said.