Intel to Buy TI Cable Modem Chip Business
The entrance sign to the Texas Instruments corporate campus is shown in Dallas, Saturday, Jan. 21, 2006 in Texas. (AP Photo/L.M. Otero)
Updated at 8:46 AM CST on Monday, Aug 16, 2010
Intel says it's buying a Texas Instruments unit that makes cable modem chips, which it intends to combine with its own processors for smarter modems and cable set-top boxes.
The companies did not reveal the terms of the deal in the Monday announcement.
Dallas-based Texas Instruments Inc. has supplied Motorola, Arris and Cisco's Scientific Atlanta unit with chips for cable modems, representing much of the U.S. market.
Santa Clara-based Intel Corp. says all employees of the TI unit have been offered positions. It expects the deal to close in the fourth quarter.
Copyright Associated Press