Elite Semiconductor Memory Technology (ESMT) will acquire Cypress's Pseudo Static Random Access Memory (PSRAM) product line. According to the agreement, Cypress will transfer PSRAM-related intellectual property, photomasks and probe card assets to ESMT. ESMT designs and manufactures specialty memory products for consumer products including DVD players and recorders, LCD flat panel monitors and TVs, portable automotive audio/video systems, MP3 players, settop boxes, and video game systems.