Apple to buy Intel's smartphone modem unit

Thursday, 25. July 2019 23:30

Apple Inc. announced on Thursday that it will acquire the majority of Intel Corp.'s smartphone business, valued at $1 billion. The deal includes around 2,200 employees, 17,000 wireless technology patents and other intellectual property, equipment and leases. The transaction should close in the fourth quarter of 2019.

"Apple is excited to have so many excellent engineers join our growing cellular technologies group, and know they’ll thrive in Apple’s creative and dynamic environment. They, together with our significant acquisition of innovative IP, will help expedite our development on future products and allow Apple to further differentiate moving forward," said Johny Srouji, the tech giant's senior vice president of Hardware Technologies.

"We’re looking forward to putting our full effort into 5G where it most closely aligns with the needs of our global customer base, including network operators, telecommunications equipment manufacturers and cloud service providers," Intel CEO Bob Swan noted.

Related Links: Intel CorporationApple Inc.
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