Apple announces $1 billion acquisition of Intel’s smartphone modem business
Apple has announced the company will acquire Intel’s smartphone modem business in an acquisition valued at $1 billion, with around 2,200 Intel employees joining the team at Apple along with Intel’s intellectual property, 4G and 5G patent portfolio, equipment and leases.
Shared within a press release on Thursday, Apple revealed the deal will see the company hold over 17,000 wireless technology patents, ranging from protocols for cellular standards to modem architecture and modem operation.
Johny Srouji, Apple’s senior vice president of Hardware Technologies said “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 environment.”
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. – 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 environment.
Apple is widely believed to be working on building its own in-house modems, and the purchase of Intel’s patents and experience will most definitely be a boost to these efforts. The acquisition is subject to regulatory approval, although the deal is expected to close during the fourth quarter of 2019.