Apple: buys most of Intel's smartphone modem business
(CercleFinance.com) - After weeks of speculation, Apple confirmed on Friday that it will buy most of Intel's smartphone modem business in a 1 billion dollar deal that will help the tech giant to develop future 5G products.
Under the terms of the deal, approximately 2,200 Intel employees will join Apple, along with intellectual property, equipment and leases.
In a statement, Intel said that it will retain the option to develop modems for non-smartphone applications, such as PCs, internet of things devices and autonomous vehicles.
After the deal, which is expected to close in the fourth quarter of 2019, Apple will hold over 17,000 wireless technology patents, ranging from protocols for cellular standards to modem architecture and modem operation.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Under the terms of the deal, approximately 2,200 Intel employees will join Apple, along with intellectual property, equipment and leases.
In a statement, Intel said that it will retain the option to develop modems for non-smartphone applications, such as PCs, internet of things devices and autonomous vehicles.
After the deal, which is expected to close in the fourth quarter of 2019, Apple will hold over 17,000 wireless technology patents, ranging from protocols for cellular standards to modem architecture and modem operation.
Copyright (c) 2019 CercleFinance.com. All rights reserved.