Apple (AAPL) to Acquire Majority of Intel's (INTC) Smartphone Modem Business

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Go back to Apple (AAPL) to Acquire Majority of Intel's (INTC) Smartphone Modem Business

Apple to Acquire Majority of Intel’s Smartphone Modem Business

July 25, 2019 4:00 PM EDT

Intel Sharpens Focus on Network Transformation and Compute at the Edge

SANTA CLARA & CUPERTINO, Calif.--(BUSINESS WIRE)-- Intel and Apple have signed an agreement for Apple to acquire the majority of Intels smartphone modem business. Approximately 2,200 Intel employees will join Apple, along with intellectual property, equipment and leases. The transaction, valued at $1 billion, is expected to close in the fourth quarter of 2019, subject to regulatory approvals and other customary conditions, including works council and other relevant consultations in certain jurisdictions.

Combining the acquired patents for current and future wireless technology with... More