Apple confirms $1 billion acquisition of Intel’s smartphone modem business

9to5Mac | 7/25/2019 | Chance Miller
Les7799 (Posted by) Level 3
Click For Photo:

Apple today has confirmed that it will acquire Intel’s smartphone modem business in a transaction valued at $1 billion. The deal is expected to close during the fourth quarter of 2019 and is subject to regulatory approval.

Through this acquisition, Apple will beef up its wireless technology patent portfolio to over 17,000 patents. Apple also says that approximately 2,200 Intel employees will join Apple, as will Intel’s equipment and leases that pertain to the smartphone modem business.

Intel - Ability - Development - Modems - Applications

Furthermore, Intel will retain the ability to development modems for non-smartphone applications, such as PCs, internet-of-things devices, and autonomous vehicles. This doesn’t necessarily mean that Apple couldn’t also develop those modems.

In the press release announcing the acquisition, Apple’s senior vice president of Hardware Technologies Johny Srouji said that Apple is excited to have Intel’s “excellent engineers” joining its cellular technologies group:

Intel - Years - Team - Shares - Apple

“We’ve worked with Intel for many years and know this team shares Apple’s passion for designing technologies that deliver the world’s best experiences for our users,” said Johny Srouji, Apple’s senior vice president of Hardware Technologies.

“Apple is...
(Excerpt) Read more at: 9to5Mac
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!