Intel Mulls Sale Of Connectivity Chip Division – Report
Intel said to be considering sale of its connected home division, as it reportedly seeks a buyer for the unit
Intel is said to be looking for a buyer for its connected home division, which makes chips found in home internet access equipment.
This is according to a report in Bloomberg, which cited people familiar with the matter as its source.
It comes as CEO Bob Swan continues to divest the chip giant of divisions where Intel is not competitive in, despite this particular unit reportedly contributing $450m in annual sales.
Possible sale
According to the Bloomberg report, Intel has already hired a financial adviser to help with the matter.
What gives this report a certain about of credence is the fact that Intel in July sold its smartphone modem business to Apple, in a deal valued at $1bn (£804m).
That deal came after Apple was said to be in ‘advanced talks’ to acquire Intel’s smartphone-modem business. Other media reports stated that Apple was talking with Intel about the purchase of its German modem business.
Intel is also known to have closed down its New Devices Group last year.
Intel’s connected home division is said to make processors for items such as home routers, gateways and other devices that combine to create the so called smart home.
Intel is going up against the likes of Broadcom and Qualcomm in supplying chips to this sector.
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