14 DAY TRIAL // Intel yesterday announced that it intends to sell its communications and application processor division, which manufactures processors developed especially for handhelds, to Marvell Technology Group, informs Reuters.
It is said that this is a result of the new strategy adopted by Intel, which is focused on the core segment. Furthermore, it seems that Marvell will have to pay no less than $600 million if it wants to benefit from the equipment and the name of Intel.
Specifically, Intel's communications and application processor division manufactures and commercializes processors meant for handhelds, and these products are regarded as being one of the most advanced options on the market segment, as they feature Intel's XScale micro-architecture.
"The sale will enable Intel to focus its investments on its core businesses, including high-performance, low-power Intel Architecture-based processors and emerging technologies for mobile computing, including Wi-Fi and WiMAX broadband wireless technologies," declared an Intel official.
Intel representatives said that the company is due to receive the sum in cash or it has the option of taking over part of Marvell's stock - up to $100 million of the $600 million. Furthermore, the transaction will be finished in four or five months.
Intel's division has 1,500 employees specialized in a wide range of domains such as marketing or engineering. Intel officials didn't reveal any details regarding the employees feature, but it seems that most of them will keep their jobs.