MTK is the English abbreviation of MediaTek. Founded in 1997, it is the world's top IC professional design company, ranking the leading position in the global consumer IC group. On September 10, 2007, MTK announced that it had signed an agreement with ADI to acquire tangible and intangible assets and teams related to Othello and softfone mobile chip product lines of ADI with cash of about $350 million. Through this transaction, MTK's wireless communication department will obtain nearly 400 professional teams with rich experience in product development and customer service; expand customer base around the world; add new mobile baseband and and RF chip products including GSM, GPRS, edge, WCDMA and TD-SCDMA chips to enrich its existing product portfolio.