Chapter 1051: Settlement agreement
Rebirth of the Official Road Business Chapter 1051 The Settlement Agreement That Was Played
Ke was also quite embarrassed. What is wrong with Fei Rong? He stepped on "Raincoat-littering is really not a good habit. He retracted into the bathroom. He lay back in the warm water. Considering whether or not to visit the United States in person. It's not just the Recording Industry Association of America withdrawing the lawsuit." The matter. The introduction of the wafer process technology from Texas Instruments also needs to be promoted appropriately.
Zhang Ke got dressed and came downstairs. Tang Jing and Chen Feirong were sitting in the dining room having breakfast. He sat down. Grab a fried dough stick and eat the soy milk in Tang Jing's cup. Chewing fritters on one side. She said to Tang Jing Feirong, "Don't make soy milk fritters. I heard people say that rich people gargle with shark fins when they wake up in the morning. When can you improve our living standards?"
"Push." Chen Feirong slipped and stepped on the condom. I am a little embarrassed to look at Zhang Ke. Watching Zhang come downstairs. Drink soy milk sullenly. Listen to him interjecting and hitting the subject. Couldn't hold back the laugh. The soy milk in my mouth is sprayed on the table. Some spray directly into the glass. Coughed fiercely for a while. Quickly pull out the napkin to wipe off the pulp stains on the table. Zhang Ke gave Zhang Ke an angry and funny look. The slap just now still faintly hurts. The soy milk in the glass can't be drunk either. Changed a glass. Pour the pulp originally reserved for Zhang into the cup. Said: "You take your shark fin mouth. This kind of soy milk that small people drink, you also look anyway." Take a sip. Stirring the dough sticks in the soy milk again. w "Fiction" novel chapters are updated fastest
Zhang Ke doesn't care. He drinks Tang Jing's soy milk anyway. Tang Jing went to divide some soy milk from Chen Feirong's cup again. Three people can mix up and finish breakfast. Zhang Ke talked about his plan to go to the United States. Tang Jing said embarrassedly: "I will go to Jinshan to accompany my mother for a few days. Anyway, I will play with Feirong. It doesn't matter whether you have it or not—you can find someone to accompany you to the United States."
Zhang Ketan is really speechless. It's so bleak. It can also be said that Xu Si has no time, although Tang Jing is already suspicious of Danqing. But Danqing is far from Perth. When I come back from the United States, I have to make a round trip to Australia. But she couldn't take her to accompany her to the United States. Wan Qing has not yet been exposed.
There is no face. This trip to the United States has become a boring and tedious business trip.
To San Francisco. Meng Le and Celine also made it right that Canada was not in the United States. Zhang Ke stayed in San Francisco for two days. Participated in the signing ceremony of the American Recording Industry Association () Settlement Agreement.
According to the settlement agreement. Kumho will upgrade the anti-piracy encryption software for ip1ayer sold in North America to meet the requirements. It gave up the request for continued prosecution and compensation in North America.
The largest free mp3 music resource website in North America was sued last month and won. Although this website claims to be non-profit. The court still ruled that this website ultimately lost the case. In addition to closing the website. Huge punitive damages
In North America. Don't talk about nature. The living space of non-profit pirated music websites has been extremely narrow. This provides a larger commercial space for online music stores such as global music online. The market potential has surged.
Global Music Online is the traditional audio-visual audio copyright dealer granted by the former online music store with the largest user base.
Online to global music. Lake holds 70% of the shares. Toshiba and Skoper hold the remaining 3% of the shares. The three companies have invested nearly 90 million U.S. dollars in total. This in itself is also an important manifestation of the rights of Kumho's traditional audio-visual audio manufacturers.
Perhaps it has long been realized that the entanglement of this lawsuit will only allow Kumho to obtain greater commercial benefits. They also held a threatening attitude at the beginning. They didn't expect that Lake, as a rising company in China, would adapt so tenaciously to the legal environment of the United States and entangle them with them for half a year.
Sign the settlement agreement. When Jin was present at the scene, they all took turns to give the representatives a warm hug, and the representatives looked extremely embarrassed. It feels like these six months have come. The opponent played fiercely. Many American media also published pictures of the enthusiastic embrace of the representatives of the two sides in prominent positions in newspapers and magazines.
The settlement agreement should be regarded as the perfect ending to this litigation for Kumho. As a result of the investigation of Internet pirated audio websites. The industry is extremely optimistic about the prospects of the Internet paid music market. A global music line that occupies 90% of the current online paid music market in the first half of 1999, with a revenue of over US$10 million, was in August 1999 when the wave of new technologies was raging. The market is naturally extremely high.
The US investment bank Goldman Sachs, which successfully put its stock on the Nasdaq market for public trading, will naturally not fail to see the value of global music online.
Zhang Keyu waited until he arrived in San Francisco. Zeng Zihui, vice president of Asia at Goldman Sachs, came from Hong Kong to San Francisco. It is hoped that Lake can return the listing of Global Music Online to Goldman Sachs.
Zeng Zihui also appeared after Kumho and the settlement agreement completely resolved the legal issues-it is impossible for Goldman Sachs to stand up in advance to support Kumho.
Located in the banquet hall of the Argennott Hotel in the center of Fisherman’s Wharf. The scarlet wine shook in the crystal clear glass. Zhang Ke couldn't think of it. There are not many business secretaries hired by North American companies. Or to say that my own aesthetic standards for Western women remain above Sophie Marzo Zetas.
"In addition to the traditional Internet website revenue model. Global Audio Online has a very good offline hardware platform. With the promotion of ip1ayer hardware. The website's music sales business model will become more and more mature. The scale will also become more and more impressive. The United States Commercial organizations' evaluation of Global Music Online. At this time, preparing for the market will win Kumho greater benefits than Quantum Online." Zeng Zihui unremittingly agitated in front of Zhang Ke, Chen Xinsheng and others. Quantum's online stock price has risen to $14 per share. Compared with the line price. The increase was nearly five times. Compare this to the stock prices held by Goldman Sachs's venture capital. The increase is even more terrifying. Of course. Goldman Sachs's range is far more than that of Quantum Online's initial investor venture capital fund-Kumho is the giant behind the Oak Park Venture Capital Fund, Zeng Zihui has already known.
Preparations for listing at this time. Nenggong's listing should be after next spring. Coupled with a ban of at least six months, it's the autumn and winter season next year. Zhang Cai does not believe in the global capital market
The new technology bubble will last until the fall of tomorrow. It will take three to four years for the bubble to recover. Since it is impossible to profit from this wave of new technology. Zhang Ke lacks interest in going public. Let's talk about the 60 million U.S. dollars capital injection that Global Music Online received from Toshiba Scopber at the beginning of the year. Also insufficient funds.
The lack of funds is although the holding of Global Music Online. However, he couldn't transfer the funds under the name of Global Music Online to Kumho Corporation to use the enthusiasm that looked at Zeng Zihui's face. Zhang Ke scratched his forehead. Said: "There is no shortage of funds at the station. The capital injection and listing does not seem to make much sense. Even if the stocks we hold can be cashed in the stock market. It will have to wait until after next autumn. I am more eager for utilitarianism. The distant water cannot save the near fire. Not much interest."
Zhang Ke's words at first heard it as a rejection of his listing lobbying. Zeng Zihui is inevitably disappointed. I haven't heard of any company that would reject Goldman Sachs's invitation to go public in these years. Unless it is poached for Morgan's competitors. Could it be said that Kumho has found a better listed company outside of Goldman Sachs?
Halfway through the dinner. Zeng Zihui left the Argentine Hotel and took the evening flight to the Goldman Sachs headquarters on Wall Street in New York. The moment he stepped on the plane. Thinking of Zhang's words, there is no meaning to completely refuse--
Far water cannot save a near fire. What did he mean by that, Kumho still lacks funds? If there is a venture capital fund, it is willing to directly take over part of the equity from Kumho. Instead of directly injecting capital and holdings in Global Music Online. Maybe this will work?
Zeng Zihui shook his head and bitterly spent his childhood in Hong Kong and then his family immigrated to the United States-he has adapted to the European and American business environment and thinking. Unexpectedly, there is a twist in Zhang Ke's seeming refusal. Although I am not sure whether the real situation is the same as my guess. But such a large amount of business is worth his mistake on this flight, and there is no regret.
Zeng Zihui got off the plane again. From the airport, return to the Argentnot Hotel again. The banquet in the hotel is not over yet. Seeing Zhang Ke, Chen Xinsheng and others were not particularly surprised at their return. Zeng Zihui knew that the guess was true. Just smiled slightly. Everyone gathered in another room to discuss some feasibility details.
It is impossible for Kumho to maintain absolute control over the global music line for a long time. Except for external pressure. Toshiba, which holds a 1,0% stake in Global Music, has always hoped that Kumho can give up its absolute controlling stake. To make Toshiba's ip1ayer hard sales a fairer opportunity.
Considering the close relationship between Skober and Kumho. Kumho actually only needs to maintain 0 equity. It will be able to control the Global Music Online in a relatively stable manner. In other words. Up to 30% of the equity can be transferred.
At the beginning of the year. Toshiba and Sibo paid a total of tens of millions of dollars in cash to obtain a 1,30% stake in Global Music. Zhang assumed such a posture at this time: Kumho can directly transfer up to 3% of its equity. The key depends on what price the venture capital of Goldman Sachs or Goldman Sachs is willing to offer.
Zeng Zihui should go to New York. Wall Street only cast a bunch of parties. Not so much that Zeng Zihui rate is very high. It is better to say that Goldman Sachs is amazing on Wall Street in the United States. Zhang's third day in San Francisco. Zeng Zihui replied that Amazon was very interested in the equity transfer of Global Music Online. I even hope to fully accept 0% of Kumho's shares. And made a tentative offer of 200 million U.S. dollars.
In the wave of new technology. Amazon is probably one of the new technology companies that will benefit the most. Compared to Amazon's business miracle. Kumho at this time was at least inferior on the surface.
In mid-July 1995, Bezos used the $300,000 lent to him by his parents. Set up an online bookstore called Amazon in a rented residence in the suburbs of Seattle. Listed in 1997. Today, four years later. Amazon has grown to become the largest Internet retailer in the United States. Provide books, audio-visual software, toys, gifts and other commodities to more than 11 million users on the Internet. The market value is over ten billion U.S. dollars. One year after Amazon went public. In order to hold the position of North American online retailer. Started large-scale mergers and acquisitions of other e-commerce sites.
As an important branch of e-commerce, online paid music download sales are increasingly recognized by the market. Moreover, the market potential of the business model combining Internet resources and hardware platforms created by Kumho cannot be underestimated. The model is difficult to imitate. Amazon's position as the largest online retailer in North America is normal for global music online.
Zhang Ke, Chen Xinsheng and they heard Amazon’s acquisition intention relayed by Zeng Zihui. I didn't even consider it. He directly rejected the will of no further cooperation with Ma Xun.
Although the profits that Global Music Online can create in the next ten years are extremely limited. However, the huge promotion effect of its ip1ayer rigidly in the areas of Europe, America, Japan and South Korea where copyright protection is very important cannot be ignored. Kumho can never give up substantive control-if Kumho is willing to give up control. Toshiba will never be stingy with 200 million US dollars.
Except Amazon. The Walden-based venture capital fund, which was the first to enter Quantum Online at this time, has a huge book profit and has a strong interest in global online equity. These venture capitalists are purely trying to speculate and profit and will not seek a controlling stake. In order to control risks, he will not even hold too many shares. Nor did it pass Zeng Zihui. After the news from Goldman Sachs. He sent a representative directly to San Francisco to contact them here. It also offered forty million US dollars to exchange 10 shares. The action is so fast. It shows that they have been watching global music online.
Compared with the stock price of Toshiba's previous capital injection. The asking price of Walden's venture capital has doubled: but compared to last year. The Nasqueda index has doubled in less than a year. The stock prices of e-commerce sites such as Mason have increased by more than twice as much-Quantum's online listing and trading has only been three months. The market value is over 1 billion U.S. dollars.
The venture capital of Goldman Sachs is sinking this time. Even if Zeng Zihui matched the bridge behind his back. None of the venture capital firms under Goldman Sachs rushed forward.
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Zhang Ke has no confidence that the wave of new technology will continue tomorrow and after the fall, but he is confident that it will last until next year. There is still plenty of time for equity transfer. Delegate all related matters to
manage. He, Chen Xinsheng, Liu Zhicheng and others flew to Dallas and Texas Instruments to enter into the final stage of negotiations on the technology transfer of the 018-meter wafer process technology.
On Deyi's side, an old friend Delfasi came forward to receive him. Zhou Changqing, president of Texas Instruments China, will naturally fly back from Beijing to Dallas-Canada for the final stage of negotiations.
The weather in Dallas in late August is much warmer than in Jianye. It's just that the business trip is a bit boring.
Delfasi is really an old friend of Kumho. Chen Xinsheng has always been a strongman under Delfasi when he worked in Texas Instruments. The personal friendship is quite rich. It is a pity that no matter how deep the personal relationship is, Delfasi will not "sacrifice" the interests of Deyi. It's really regrettable.
It should be said that besides Kumho, who else is watching the miraculous rise of Kumho. Delfasi counts one. When Kumho first entered the DVD player business. Texas Instruments is the most important partner. these years. Kumho and Texas Instruments have close cooperation in many fields. Joint research institutes of joint venture companies. Even Texas Instruments still holds 10 shares of Microchip Microchip-especially in the cooperation of the DVD player decoding chip and the ip1ayer hardware architecture. So that the two patriarchs reaped substantial benefits.
Due to the weakness of the global electronic field. Texas Instruments' annual profit in 1998 fell to less than 800 million U.S. dollars. Among them, more than 200 million U.S. dollars are generated from Kumho-related businesses.
Last year in 1999. Although the new technology economy is extremely fanatical. But that is mostly a matter of the capital market. The global electronic components market remains weak. However, with the rapid growth of China's consumer electronics market and ip1ayer's global sales are booming. Texas Instruments expects to have a net profit of more than US$300 million from the business related to Kumho in 1999.
Kumho is a strategic partner. Rong Deyi's senior figures have increasingly ignored it.
The American media and the public have a good understanding of the relationship. first half of this year. Kumho and the Recording Industry Association of America are a division that spans half a time span. The reputation of Kumho in North America has greatly increased. It also caused a small group of American media and the public to question the rapid advancement of Kumho Electronics' technology because of the technology delivery of Texas Instruments. Some media even proposed to review the deal between Texas Instruments and Kumho. The German instrument has endured a lot of pressure.
Pressure the pressure. In the face of huge commercial interests. This kind of pressure is irrelevant-no one can ignore China's growing consumer electronics market at this time. No one can ignore the position of Kumho in the Chinese consumer electronics market.
On the night Zhang Ke, Chen Xinsheng and Zhicheng and others arrived in Dallas, An Jibo, the executive officer of the ceremony, still gave Zhang Ju's private banquet in his private house.
Apart from guest and friend trails. Gibb Del Fassi also feels the exhibition of the lake.
Although Microchip received a capital injection from Texas Instruments in the middle of last year. In fact, it has not received the support of Texas Instruments in the process technology, but the microchip microchip has increased from a yield rate of 3% at the beginning of production to 0% now. The performance is even better than other round factories with mature processes. Microchip's Xinpu factory has been running in for nearly a year. The actual production capacity is increased to 60,000 pieces per month.
The first half of 1999. The domestic output of disc players reached 10 million units. The global output of disc players is about 12 million. The market share of 90% of the decoder chip and more than 50% of the control core is controlled by the joint venture of the three companies of Adidas Cooper after the process conditions of the Xinpu factory meet the conditions. Almost half of the joint venture's orders are transferred to Microchip. Domestic digital mobile phone and other electronic component manufacturers that have grown up by relying on the Digital Mobile Phone Technology Promotion Association are in the chip foundry business field formed by these electrical manufacturers. Microchip Microcore accounts for almost half of the share. Besides. That is, Kumho has independent intellectual property rights for the low-end chip orders almost all handed over to the Xinpu factory foundry, including the most profitable flash memory chip business.
The global electronics industry of Microchip's Xinpu factory is relatively sluggish. Rely on these businesses. Less than a year after the plant was built, it became profitable. It's already a pretty good result-of course. The completion of Microchip's Xinpu factory. Mainly rely on the vertical production system of the lake. The orders received by the Xinpu factory at this time are directly or indirectly related to it.
Kumho's production scale is continuously expanding. In particular, the digital mobile phone industry cluster bred out on the basis of the Digital Mobile Technology Promotion Association has gradually gained a foundation. In addition, the relatively low manufacturing cost in China will also have a place in the international chip business market. The Xinpu plant was completed less than a year ago. It is necessary to consider capacity expansion and technological upgrading For DEI. The 025-meter wafer process technology that Sinochip has been pursuing is the technology that it is phasing out. The chip products produced by the 018-meter process technology of TI Yifen are also handed over to the foundry of TSMC South Korea's Annan and other fabs. The rice wafer process technology has little impact on Texas Instruments' natural wafer production business.
On the one hand, it is forced by high production and management costs. Texas Instruments needs to withdraw from low-end crystal production to the other party. As more and more electronics companies gradually master the low-end chip design technology. Once Texas Instruments withdrew from the low-end wafer production. Will be completely unable to share the profits of the low-end chip market
Although the profit margin of the low-end chip market is relatively low. But the victory lies in the huge market capacity. The total profit scale is still considerable.
Hold shares in low-end and mid-range fabs. Share profits in the low-end chip market. It is undoubtedly the best choice for Texas Instruments. This is also an important basis for Texas Instruments to make a strategic decision to inject capital and shareholding into Microchip a year ago-at this time, it transferred the current 025-meter wafer process technology to Microchip. The internal understanding of Texas Instruments is the same. As an additional condition for the transfer of technology. Texas Instruments will continue to invest in microchip microchips; however, the 018-meter wafer process technology is currently the main technology. Although it can rub the edge of national supervision and transfer to Microchip Microchip. For this reason, Texas Instruments has to bear huge public opinion pressure from the American media and the public. Can not help people hesitate.