Cirmaker Technology Corp., which manufactures set top boxes for digital TV signal reception, CPU coolers for computers and electronic components, today announced that it has signed an agreement with the Shaanxi Ruyi Electric Co. relating to the purchase of a 66% stake in Shaanxi Ruyi Electric's subsidiary, Shaanxi New Century Electronics Co., which will manufacture set-top boxes (also known as digital receivers) that receive signals from satellites and do not require cable connections for the mainland China television market.
Shaanxi New Century Electronics Co. is located in Xian Yang, Shaanxi Province. Under the terms of the agreement, Cirmaker Technology has agreed to purchase 66% of Shaanxi New Century Electronics and Shaanxi Ruyi Electric will continue to own 34%. Shaanxi New Century Electronics has the exclusive right to use Ruyi's brand name in its set top boxes. Shaanxi Ruyi Electric, which ranks as one of the 500 largest Chinese companies, is one of the largest manufacturers of TV sets in China.
Headquartered in Taiwan with offices in New York City, Beijing, and Guangdong province, Cirmaker Technology manufactures cooling systems for laptop and personal computers, electrical and electronic components and 3G MHP (3rd generation multimedia home platform) digital set top boxes for television sets. Cirmaker has developed set top boxes that convert digital television broadcast signals into analog formats so that analog TV sets can receive digital programming. The system also receives, processes, stores and broadcasts analog, digital and streaming media signals, and supports pay-per-view and video-on-demand functions.