Intel Completes $1.4 Billion Purchase of Infineon Wireless U
Intel (INTC) today announced that it has completed its $1.4 billion purchase of Infineon Technologies' wireless communication unit. The deal, which was announced last August, is expected to help INTC expand beyond the personal computer market into the small devices market. The acquisition will provide INTC the technical expertise to develop chips for small devices that don't drain batteries as quickly, particularly for chips built around the low-power ARM architecture. Such chips are widely used in cell phones and tablets. Shares are down 1.02% to $21.24.
Credit: Financial News Network
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