• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Intel to buy Infineon's wireless unit for $1.4 bn

By Samyuktha
|

Intel
Frankfurt, Aug 30: US chipmaker, Intel Corp is set to take on the smartphone market with an acquisition of Infineon's wireless unit.

The German chipmaker on Monday, Aug 30 announced that it has agreed to sell its wireless unit for $1.4 billion to Intel Corp.

Infineon's chips are used in smart phones, including Apple Inc's high-profile iPhone 4.

Intel has informed that the wireless unit will remain a standalone business.

The deal is expected to close in the first quarter of 2011.

With this kind of a buyout, Intel, the world's largest semiconductor maker, is set to strengthen its presence in an area in which it has had limited success previously, noted Wall Street Journal.

This is also Intel's second acquisition in about two weeks after the Aug 19's acquisition of the security technology firm McAfee Inc for almost $7.7 billion in cash.

OneIndia News

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more