Milpitas-based Phoenix Technologies Ltd., a developer of BIOS software for the PC market, said today that it has agreed to sell assets related to its HyperSpace, HyperCore, and Phoenix Flip instant-on and client virtualization products to HP. Phoenix said the deal is worth $12M in cash. Phoenix said the move comes as a result of a decision to focus on the core systems software (BIOS) market. The firm has been selling off non-core assets since January; the firm said it sold its FailSafe and Freeze assets in April and is still looking to divest its eSupport products.