Via bought S3 back in 2001. The idea was to help with the integration of graphics with Via's processors and chipsets. In its lifetime S3 has worked on graphics visualisation for PCs, consoles and now, mobile. HTC must fancy a boost.
Later, Via used WTI Investment International as an investors fund to run operations and R&D initiatives. S3 Graphics also fell into the nurturing hands of that group, run by one Cher Wang.
WTI will get $153 million through the sale and Via will get $147 million. HTC, in turn, will get a capable graphics company to help out with its UI or whatever else it needs.
Chairwoman of WTI Cher Wang will be pleased by the sell. She's also chairwoman of HTC Corporation.
In fact, VIA is owned by monstrous parent company, Formosa Plastics. Formosa has close relations with HTC - its former boss has a daughter in Cher Wang. In basic terms, the deal means subsidiary shifting.
The board of directors for HTC, WTI and Via will all need to approve the transaction. If it goes through, and we don't see why not, it should close before the year's end.