Apple Acquired Most of Intel’s Smartphone Modem Business for $1 billion

Apple Acquired Most of Intel's Smartphone Modem Business for $1 billion

As it became known, Apple has made a deal with Intel to acquire its modem business. This acquisition cost approximately $1 billion. Apple has received more than 2,200 new employees (mostly talented engineers), as well as about 17,000 new unique technology patents.

“We’ve worked with Intel for many years and know this team shares Apple’s passion for designing technologies that deliver the world’s best experiences for our users,” – Apple SVP Johny Srouji said.

This news was an official confirmation of those rumors that have been online for several days. This step was quite logical for Apple, as they had long been trying to create separate key components for their devices on their own.

“We believe that we need to own and control the primary technologies behind the products that we make, and participate only in markets where we can make a significant contribution.” – Apple CEO Tim Cook said.

Apple expects the deal to be officially closed in the fourth quarter of 2019 after it has been subjected to standard regulatory verification.

We want to remind:

Apple Wants To Buy Intel’s Modem Business for $1 billion

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