Apple has announced that it plans to buy the “majority of Intel’s smartphone modem business,” following recent rumors to that effect.
The deal will cost Apple about one billion dollars, and should close in the fourth quarter of this year, subject to regulatory approval. For the price, Apple will acquire approximately 2,200 Intel employees along with intellectual property, equipment, and leases.
The deal will greatly boost Apple’s patent portfolio, taking the company to over 17,000 patents related to current and future wireless technology.
