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23.07.2019 03:21:00

Apple Reportedly In Advanced Talks To Buy Intel's Cellular Modem Unit

(RTTNews) - Apple Inc. (AAPL) is in advanced talks to buy Intel Corp.'s cellular modem unit, the Wall Street Journal reported citing people familiar with the matter. The Intel assets could be valued at about $1 billion in a transaction.

The deal could be announced as soon as next week, the report said.

The deal has been rumored since Apple gave up on its worldwide legal fight with modem maker Qualcomm Inc. on the same day that Intel announced that it would wind down its modem business, the report said.

The Journal reported that Intel and Apple were in talks for more than a year, but Intel began shopping the unit after Apple struck a multiyear deal with Qualcomm as part of the companies' legal settlement.

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Apple Inc. 175,44 0,71% Apple Inc.
Intel Corp. 18,12 1,18% Intel Corp.
QUALCOMM Inc. 128,70 2,75% QUALCOMM Inc.