Marcio Jose Sanchez/AP
- Apple is acquiring the majority of Intel’s smartphone-modem business in a deal valued at $1 billion.
- Apple will have access to more than 17,000 patents and gain 2,200 employees from Intel as part of the deal, which is expected to close in the fourth quarter of 2019.
- The news comes after Intel announced it would be exiting the 5G smartphone-modem business in April.Â
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Apple has struck an agreement to purchase the majority of Intel’s smartphone-modem business in a deal valued at $1 billion, the iPhone maker announced on Thursday.
The deal, which is expected to close in the fourth quarter of this year pending regulatory approval, will give Apple access to more than 17,000 patents covering wireless technologies like modem architecture, cellular standards, and modem operation. Intel will still be able to develop modems for nonsmartphone products, like PCs and smart-home devices. About 2,200 Intel employees will be joining Apple.See the rest of the story at Business Insider
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