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Direct: Apple has announced the conclusion of an agreement for the acquisition of the majority of Intel's smart phone modem business, amounting to $ 1 billion.
Apple said Thursday in a statement that nearly 2,200 Intel employees would participate in this deal, on the side of intellectual property, equipment and leases.
The company said it expects the $ 1 billion deal to be completed in the fourth quarter of 2019, stating that it will remain subject to regulatory approvals and other customary conditions.
By combining existing and future wireless technology patents with Apple's current portfolio, Apple will retain more than 17 patents for wireless technology ranging from standard cellular protocols to modem architecture and operation, the statement said.
Intel will retain the ability to develop modems for non-intelligent applications, such as computers and Internet devices for objects and independent vehicles.
"This agreement allows us to focus on the development of technologies for fifth-generation networks, while maintaining the intellectual property and dynamic modem technology created by our team," said Bob Swan, CEO of Intel.
"We have been working with Intel for many years and know that this team shares Apple's design of technologies that offer the best overall experiences to our users." Apple is eager to join a large number of excellent engineers, "he said. said Johnny Sroji, vice president of hardware technology of Apple.
At 14:20 GMT, Apple grew 0.7% to 208.4 USD.
During the same period, Intel rose 0.4% to 52.38 USD.
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