NEC, Matsushita, and TI (Texas Instruments) are to set up a joint venture in August for 3G mobile communication technology in Yokosuka, Japan. NEC and Matsushita will each hold a 44% share, and TI will control the remaining 12% of the new company named AdCore-Tech. A total of 12 billion Yen (US$103.6 million; US$1 = 115.8 Yen) will be invested in the joint venture, which will start operations in September 2006 and which will have a staff of some 180. AdCore-Tech will develop a platform for developing mobile communication technology, such as 3G baseband chips; the platform will also be compatible with a Linux platform recently established by several operators and mobile phone makers, including Matsushita and NEC. The resulting technology and software will be licensed to mobile phone makers worldwide, and the participating companies expect handsets utilizing their technology to be made available by the third quarter of 2007.