WorksForTurkeys
06-27-2006, 01:31 PM
Marvell Buys Intel Chip Unit for $600M
http://apnews.excite.com/article/20060627/D8IGI1A01.html
Jun 27, 8:11 AM (ET)
SANTA CLARA, Calif. (AP) - Intel Corp. (INTC) (INTC) is selling its division that makes processors for handheld devices in a $600 million deal announced Tuesday with Marvell Technology Group Ltd. (MRVL) (MRVL)
Marvell will be acquiring the business that makes processors based on Intel's XScale technology, which has produced the chips used in the popular BlackBerry and Treo handheld devices. The unit employs 1,400 people, and Marvell said it expects to retain the "vast majority" of them.
The deal allows Intel to focus more on other kinds of processors, such as chips for notebook computers.
Marvell is to pay cash, although Intel has an option to receive $100 million of the purchase price in Marvell stock. Marvell said it may take a charge for research and development costs when the deal closes.
http://apnews.excite.com/article/20060627/D8IGI1A01.html
Jun 27, 8:11 AM (ET)
SANTA CLARA, Calif. (AP) - Intel Corp. (INTC) (INTC) is selling its division that makes processors for handheld devices in a $600 million deal announced Tuesday with Marvell Technology Group Ltd. (MRVL) (MRVL)
Marvell will be acquiring the business that makes processors based on Intel's XScale technology, which has produced the chips used in the popular BlackBerry and Treo handheld devices. The unit employs 1,400 people, and Marvell said it expects to retain the "vast majority" of them.
The deal allows Intel to focus more on other kinds of processors, such as chips for notebook computers.
Marvell is to pay cash, although Intel has an option to receive $100 million of the purchase price in Marvell stock. Marvell said it may take a charge for research and development costs when the deal closes.