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Apple Rumored To Buy Intel’s Chip Business

July 23, 2019

Via: Pymnts

Apple is reportedly in advanced talks to acquire chipmaker Intel Corp’s smartphone-modem chip business.

The deal, valued at $1 billion or more, could be reached in the next week, a source told The Wall Street Journal.

If the transaction is completed, it would give the tech giant access to the engineering work and talent behind Intel’s work on the modem chips for 5G technology, saving Apple years of development work as it reportedly been working on its own chips. The company has already hired engineers, including some from Intel, as well as announced plans for an office in San Diego.

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