Intel Corporation (NASDAQ:INTC) has flexed their acquisition muscles once again by agreeing to buy Infineon Technologies’ Wireless Solutions for $1.4 billion. This strategic acquisition increases Intel’s smartphone presence.
“The global demand for wireless solutions continues to grow at an extraordinary rate,” stated Intel CEO Paul Otellini. “The acquisition of Infineon’s WLS (Wireless Solutions) business strengthens the second pillar of our computing strategy–Internet connectivity–and enables us to offer a portfolio of products that covers the full range of wireless options from Wi-Fi and 3G to WiMax and LTE (4G).”
Infineon has a 10.7% marketshare for cellular-baseband shipments as of last year in a report from The Linley Group. Intel recently announced the acquisition of anti-virus software company McAfee for $7.68 billion too. Intel is on a buying-binge!