Chinese fabless semiconductor company Vimicro International, TEDA (Tianjin Economic-Technological Development Area), and a venture capital fund have established a joint venture for digital video surveillance products in Tianjin, China, according to a press release by Vimicro. The new company will be dedicated to the design and sale of digital video surveillance products. Both Vimicro and TEDA have invested 250 million RMB (US$36.55 million; US$1=6.84RMB) in the venture and will each hold a stake of 50%. Further details have not been disclosed.