It's Official: Apple to Acquire Intel's Smartphone Modem Business for $1 Billion

, It's Official: Apple to Acquire Intel's Smartphone Modem Business for $1 BillionApple announced today in a press release that it has signed an agreement with Intel to acquire the majority of its smartphone modem business for $1 billion US dollars.

It’s finally official, Apple wants to acquire the majority of Intel’s smartphone modem business, along with more than 2,200 Intel employees, intellectual property, equipment, and leases, in an attempt to manufacture modems for future iPhone devices. The transaction will cost Apple no less than $1 billion US dollars and it is expected to close sometime in the fourth quarter of 2019 if everything goes well.

“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 excited to have so many excellent engineers join our growing cellular technologies group, and know they’ll thrive in Apple’s creative and dynamic envi… (read more)

Source Link

Remember to like our Facebook and our twitter @macheatdotcom for a chance to win a free iPad Pro every month!

Quick Links: How To Install Steam On Mac | Download Mac Apps | Mac Games |  Download Rolex Watch Wallpapers

Juniya Sankara

Juniya Sankara

A web developer, programmer, MacOS fanatic. I also love comic books, sports and I enjoy researching history facts. My role on is to make sure everything works 24/7.