Philips sells small chipmaking subsidiary, Telegraaf reports
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FILE PHOTO: Philips Healthcare headquarters is seen in Best, Netherlands August 30, 2018. REUTERS/Piroschka van de Wouw/File Photo
AMSTERDAM (Reuters) - Healthcare technology company Philips has sold its Xiver computer chip subsidiary, the Telegraaf newspaper reported, citing Xiver's CEO.
The business was sold to a consortium headed by Orange Mills Ventures, the investment vehicle of Dutch businessman Cees Meeuwis, the newspaper said.
Financial terms were not disclosed. Xiver was described as being loss-making and having 100 employees.
Philips could not immediately be reached for comment.
The paper described Xiver as a maker of MEMS, or micro-electromechanical systems, that combine mechanical and electronic parts on a silicon chip.
The paper cited CEO John van Soerland, who retired as an executive at Dutch tech firm VDL last year, as saying that Xiver is a supplier to ASML and French defence company Lynred.
Philips sold off most of its semiconductor-related businesses, including ASML itself, years ago. Philips' former chip businesses also include NXP and WingTech-owned Nexperia. Philips now focuses on making healthcare equipment.
(Reporting by Toby Sterling; Editing by Mark Potter)
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