The Board of Taiwan's MediaTek has approved an all-stock deal to acquire a controlling stake of 69% in NuCORE, a California-based designer of image processing chips for digital video and still cameras. MediaTek is to issue 3.5 million ordinary shares, valued at US$37 million, for the transaction to be completed before July 20, 2007. By means of the deal, MediaTek will take over NuCORE's existing digital camera clients and intellectual property rights. Moreover, MediaTek will be able to expand its product line and improve its TV image processing technology.