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Apple confirmed the acquisition of Intel’s modem division in a press release.
Apple is acquiring the majority of Intel's modem division for approximately one billion US dollars. The deal is expected to close in the fourth quarter of 2019, pending regulatory approval. Both companies confirmed this yesterday evening. Through the purchase of the modem division, Apple will gain approximately 17,000 patents for wireless technologies and approximately 2,200 employees. The agreement stipulates that Apple will acquire a majority stake in Intel's smartphone modem business for one billion US dollars. However, Intel will retain the ability to develop modems for PCs and autonomous vehicles. Johny Srouji, Senior Vice President of Hardware Technologies, expressed Apple's enthusiasm for Intel's "excellent engineers" in the press release. It states:
We've worked with Intel for many years and know this team shares Apple's passion for developing technologies that deliver the best experiences in the world to our users. Apple is excited to have so many excellent engineers join our growing Mobile Technologies group and knows they will thrive in Apple's creative and dynamic environment. Combined with our significant acquisition of innovative IP, they will help accelerate our development for future products and enable Apple to further differentiate itself," said Srouji.
The takeover was announced earlier this week in a report in the Wall Street Journal - but official confirmation was expected next week. The negotiations are said to have lasted for over a year. According to rumors, Apple is still planning to develop its own modem - in order to become more independent. Intel's engineers and patents should be a great help in this. However, it remains unknown when we can expect the first market-ready Apple modem. (Photo by Unsplash)
