Parthus shares jump on Samsung chip deal

Parthus Technologies, the Dublin-based technology firm, got a shot in the arm yesterday from signing up the semiconductor division of Samsung Electronics as its latest technology customer.

The Samsung division Device Solution Network has licensed Parthus' GPS location technology with a view to designing it into its own chips.

Shares in Parthus, which floated on the stock market in the summer of 2000, finished up 6.5 per cent, or 2.75p, yesterday at 44.75p although no financial details of the deal were given.

The latest version of the company's GPS location platform, known as "NavStream 3000", has been designed for use in the mobile phone market.

Parthus is hoping to capitalise on recent moves, particularly in the United States, to get location technology integrated into mobile phone handsets and other mobile devices.

The Federal Communications Commission in the US has ordered mobile phone companies to implement technology that will enable the emergency services to easily locate mobile phone callers.

Parthus said yesterday the latest version of its technology could find the exact location of an individual, vehicle or device in "practically any circumstance" including in remote areas as well as inside buildings.

Other semiconductor companies to have licensed Parthus' location technology include STMicroelectronics, 3Com of the US and the UK chip designer ARM Holdings.

Parthus recently reported a 2001 pre-tax loss of $11.7m (£8.2m) compared with an $8.2m loss a year earlier. Sales were $40.9m, up from $31.9m. It said it started the current year with a "strong" sales pipeline, but warned visibility in the industry remained "poor".