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Apple Acquiring Intel’s Smartphone Modem Business in $1B Deal
Cupertino, CA-based Apple Inc. is buying the majority of Santa Clara, CA-based Intel’s smartphone modem business in a transaction valued at $1 billion. Roughly 2,200 Intel employees will join Apple, along with intellectual property, equipment and leases.
Employees involved in the deal are based in Santa Clara; San Diego; Munich, Germany; Linz, Austria and Bangalore, India. The transaction is expected to close in Q4 2019.
Apple’s Johny Srouji, SVP of Hardware Technologies, says, “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. They, together with our significant acquisition of innovative IP, will help expedite our development on future products and allow Apple to further differentiate moving forward.”
Apple’s patent count for current and future wireless technology now stands at more than 17,000. Intel will retain the ability to develop modems for non-smartphone applications, such as PCs, internet-of-things devices and autonomous vehicles.
* Pictured Apple Park Spaceship Corporate Headquarters Cupertino, CA Photo Credit: Felix Mizioznikov / Shutterstock.Com
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


