Apple has announced that it will acquire Intel's modem business for $ 1B. The agreement is expected to be completed during Q4 2019 and will be reviewed with regulatory approval in mind.
In the transaction, Apple will absorb approximately 2,200 Intel employees and the business lease and equipment. The Cupertino-based company will also expand its wireless technology patent portfolio to more than 17,000. -is. Just last week, the Wall Street Journal reported that Apple was interested in buying Intel's modem business, a deal signed today.
It is believed that Apple is developing its own smartphone modems, and the acquisition will serve as a push toward that direction. Rumor has it that Apple already has around one to two thousand employees working on chips for use on future devices, which doubles as the transaction goes through.