Intel Continues it’s Buying Spree with Infineon’s mobile unit for $1.4 billion
Within 2 weeks of offering to buy the major antivirus software maker McAfee for $7.7Billion, Intel (INTC) is on the prowl again, announcing to buy the German chipmaker Infinion’s wireless (mobile) unit for $1.4Billion:
Intel will buy German chipmaker Infineon’s wireless unit for $1.4 billion, enabling the U.S. chipmaker to boost its presence in the smartphone market.
The cash transaction is expected to close in the first quarter of 2011 and the mobile unit will remain as a standalone business, the companies said in a statement on Monday.
Three people familiar with the matter had told Reuters on Friday that Intel and Infineon would likely reach an agreement on the business’s future within the next few days.
This is the second major deal for Intel within two weeks after the company announced its $7.7 billion offer for McAfee Inc on Aug 19, its largest acquisition, bolstering the appeal of its chips as it tries to expand further into the mobile market.
Intel’s Atom mobile chips took the low-cost, no-frills netbook market by storm but are rarely found in smartphones where other chipmakers dominate.
Full Article: http://www.reuters.com/article/idUSTRE67Q3J820100830