Marvell to buy Intel processor unit for $600 million

“Marvell Technology Group Ltd. will buy Intel Corp.’s communications and application processor business for $600 million plus the assumption of undisclosed liabilities, the companies said on Tuesday.,” Reuters reports.

“The acquisition will bolster Marvell’s position in the market for processors used in hand-held devices, and allow Intel, the world’s largest maker of semiconductors, to focus on its core businesses, the companies said,” Reuters reports.

Reuters reports, “Intel’s communications and application processor business includes approximately 1,400 employees involved in a variety of functions, including engineering, product testing and validation, as well as operations and marketing. The majority of these employees are expected to become employees of Marvell, which makes wireless communication, controller and power management chips, the companies said.”

Full article here.

[Thanks to MacDailyNews Reader “Cmajor” for the heads up.]

[UPDATE: 10:37am EDT: Fixed first sentence.]

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  1. Marvell Technology Group Ltd. (Nasdaq:MRVL – news) will buy Intel Corp.’s (Nasdaq:INTC – news) communications and application processor business for $600 million plus the assumption of undisclosed liabilities, the companies said on Tuesday.

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