Philips announced on January 9 that it has signed an agreement with Arima Devices, a subsidiary of Arima Computer, to sell its optical pick-up business to the Taiwanese company. Although financial details of the deal were not disclosed, Philips did state that it will acquire a 14% stake in Arima Devices as part of the transaction. Philips' optical pick-up business recorded revenue of 140 million Euros in 2004, and currently employs 780 people.