Sunday, August 29, 2010

Intel Confirms Acquisition of Infineon Wireless

Intel announced its intention to acquire Infineon's Wireless Solutions Business, called WLS, in a cash transaction valued at approximately $1.4 billion. The deal expands Intel's current Wi-Fi and 4G WiMAX portfolio to include Infineon's 3G capabilities. Intel said the acquisition also accelerates its entry into LTE.

Intel plans to integrate the Infineon's wireless technology in its Intel Core processor-based laptops and Intel Atom processor-based devices, including smartphones, netbooks, tablets and embedded computers.

"The global demand for wireless solutions continues to grow at an extraordinary rate," said Paul Otellini, Intel president and CEO. "The acquisition of Infineon's WLS business strengthens the second pillar of our computing strategy -- Internet connectivity -- and enables us to offer a portfolio of products that covers the full range of wireless options from Wi-Fi and 3G to WiMAX and LTE."

Infineon said the deal enables it to concentrate its resources towards growth in its core segments Automotive (ATV), Industrial & Multimarket (IMM) and Chip Card & Security (CCS). The deal is expected to close in the first quarter of 2011.

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