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© Intel Business | November 28, 2019

Intel’s looking to sell its connectivity chips businesses

The US chipmaker is reportedly looking for potential buyers for its connected home division, a business unit providing gateway solutions to connect devices and appliances.

Intel has hired a financial adviser to help the company sell the business unit which has annual sales of about USD 450 million, reports Bloomberg citing people familiar with the matter. The California-based company declined to comment on Bloombergs information. Bob Swan has, as pointed out by Bloomberg, previously stated that he is looking to explore options for the company in areas where it isn’t competitive. Not long ago Intel sold its smartphone modem business to Apple in a USD 1 billion deal.
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December 12 2019 10:59 am V14.8.5-2