New Medium Enterprises has signed an MOU with MPEG Technology Company to buy a controlling stake in it.

MPEG Technology specializes in the supply of High Definition (HD) products and its current annual turnover is approximately US$10 million.

MPEG Technology's CEO, Ms. Georgia Huang commented, "The marriage between NME and MPEG Technology will provide us the desired opportunity to develop and market high end HD electronic solutions in the Chinese and Southeast Asian region. We further believe that our relationship with NME will pave the way for MPEG to accelerate its already enviable growth and transform it into a truly multinational enterprise. Our customer base and relationships will provide NME a fast track route to market with its products."

MPEG is part of a leading and reputable electronics developer with their own R&D facility and manufacturing base in China.

As a leading ODM, MPEG develops and markets HDTV, PVRs, HD IPTV and Set Top Boxes, PMPs. The group employees over 350 people, who include approximately 70 top engineers.