Panasonic is moving to acquire Sanyo Electric after squabbling Sanyo shareholders agreed to a plan whereby the smaller electronics company will be acquired for around US$9 billion. US investment powerhouse Goldman Sachs agreed to participate in the deal for a price per share of 131 yen (US$1.47) after it had rejected an earlier price of 130 yen.

Handset maker Nokia is selling its Internet security business to Check Point Software Technologies for an undisclosed sum. Israel-based Check Point says the acquisition will help it expand its lineup of security products.

MEMS solution provider MEMSIC has announced a new line of magnetic sensors with enhanced digital compass functionality, which will enable a host of new location-based services (LBS) in GPS (global positioning systems) enabled mobile phones and PNDs (personal navigation devices).

When China offered 30 years ago to set up transport links with Taiwan, the island's government said no. As China's economy grew, Taiwan wavered. On December 15 ships, aircraft and mail at last began routine daily crossings directly across the Taiwan Strait. A jubilant Chinese official declared it "the final part of our economic circle with Taiwan."

The Netherlands-based provider of lithography systems will trim 10% of its workforce, comprising approximately 1,000 employees who are mainly on temporary contracts, as it looks to cut costs in 2009.

STMicroelectronics NV, Europe's largest semiconductor maker, plans to shut its plants in Italy over the Christmas period, affecting about 8,000 workers, as demand slides amid a deteriorating economy and an industry glut.

Chinese telecom operators will spend about $41 billion on next generation (3G) mobile networks over the next two years, the government said on Friday.