Intel and Apple have signed an agreement that Apple will acquire most of Intel's smartphone modem business. Approximately 2,200 Intel employees will join Apple, including related intellectual property, equipment and leasing. The transaction, valued at $1 billion, is expected to be completed in the fourth quarter of 2019, subject to regulatory approval and other general conditions, including the establishment of working committees and other related consultations within specific jurisdictions.
Through the acquisition of current and future wireless technology patents, plus Apple's existing patent portfolio, Apple will have more than 17,000 wireless technology patents, ranging from cellular standard protocols to modem architecture and modem operation. Intel will retain the choice of developing modems for non-smartphone applications, such as PCs, IoT devices and self-driving cars.
Intel CEO Bob Swan said: "This agreement allows us to focus on developing 5G network technology while retaining the key intellectual property and modem technologies created by our team. We have always respected Apple, we believe them We will provide a suitable environment for this talented team and these important assets. We look forward to working hard at 5G to best meet the needs of our global customer base, including network operators, telecom equipment manufacturers and cloud service providers. Business."
Johny Srouji, senior vice president of hardware technology at Apple, said: "We have been working with Intel for many years and know that this team, like Apple, is passionate about technology design and is committed to developing the best experience in the world for users. Apple is excited to do so. Many outstanding engineers join our growing cellular communications technology business unit, which will thrive in Apple's creative and dynamic environment. Together with our major acquisitions of innovative intellectual property, their participation will help accelerate We develop products for the future and drive Apple to stand out from the crowd."
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