Sigma Designs and Vietnam Multimedia Corporation announce they have reached an agreement to establish a joint venture to develop and market high-performance set-top boxes for digital television, smart energy products and home connectivity solutions.

The joint venture, VietSilicon Technology Joint Stock Company, will enable the two companies to accelerate their growth in the Vietnamese market by combining proven IPTV semiconductor technology with VTCs unparalleled local content and network in Vietnam.

Under the terms of the agreement, the joint venture will combine an experienced team, technology development, products, sales and marketing. With the combined talent, capabilities and capital sharing, the joint venture will also provide the focus required to speed innovation and delivery of products to market in Vietnam. Sigma Designs expects the joint venture to introduce two new products in 2011.