Apple acquires the majority of Intel's smartphone modem business

Cupertino and Santa Clara, Calif. – Apple and Intel have signed an agreement for Apple's purchase of most of Intel's smartphone modems market. Approximately 2,200 Intel employees will join Apple, as well as intellectual property, equipment and leases. The transaction, valued at $ 1 billion, is expected to close in the fourth quarter of 2019, subject to regulatory approvals and other customary conditions, including the holding of a corporate committee and other consultations. relevant in certain jurisdictions.

By combining the patents acquired for current and future wireless technology with Apple's existing portfolio, Apple will hold more than 17,000 patents for wireless technology, ranging from protocols for cellular standards to modem architecture and operation. . Intel will retain the ability to develop modems for applications other than smartphones, such as personal computers, devices for the Internet of Things and autonomous vehicles.

"This agreement allows us to focus on developing technologies for the 5G network while retaining the IP technologies and essential modem technologies created by our team," said Intel CEO Bob Swan. . "We have respected Apple for a long time and are confident that they offer the right environment for this talented team and these important badets. We look forward to putting our best efforts into 5G, where it best meets the needs of our global customer base, including network operators, telecom equipment manufacturers and cloud service providers. "

"We have been working with Intel for many years and know that this team shares Apple's pbadion for designing technologies that deliver the best global experiences to our users," said Johny Srouji, senior vice president of hardware technology. Apple. "Apple is excited to see so many excellent engineers join our growing group of cellular technologies and know that they will thrive in Apple's creative and dynamic environment. our significant acquisition of innovative IPs will help accelerate our development on future products and enable Apple to stand out more. "

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the imminent acquisition of the majority of Intel's smartphone modem business, including statements about the advantages and disadvantages. the moment of the transaction. These statements involve risks and uncertainties and actual results may differ. Risks and uncertainties include, but are not limited to, the outcome of regulatory reviews of the transaction, the outcome of the company committee's consultations and other relevant consultations in certain jurisdictions, the ability of the parties to complete the transaction on time, or at all, legal or regulatory proceedings. affecting the closing of the transaction. Further information about these and other potential factors that may affect Apple's transaction and financial results can be found in Apple's filings with the SEC, including "Risk Factors" and "Risk Factors". Management's Discussion and Analysis of Financial Position and Results ". The latest periodic reports of Apple on the forms 10-K and 10-Q and the following ones. Apple badumes no obligation to update forward-looking statements or information, which are valid as of the date of publication.