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Intel buys satellite navigation chips business from ST-Ericsson |
May 29, 2013
Intel has confirmed that it has signed a definitive agreement to acquire certain assets of the Global Navigation Satellite System business of ST-Ericsson, extending its investments in positioning technology.
The financial terms of the deal were not disclosed.
ST-Ericsson, a 50-50 semiconductor joint venture by STMicroelectronics and Ericsson, announced earlier on Tuesday that it had sold the assets and intellectual property rights associated with its mobile connectivity GNSS business to an unnamed “leading semiconductor company.”
STMicroelectronics and Ericsson announced in March that they were winding down the operations of the joint venture, with each parent taking on parts of ST-Ericsson. The joint venture said it was pursuing external options for its connectivity business.
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Link: http://www.pcworld.com/article/2040050/intel-buys-satellite-navigation-chips-business-from-stericsson.html#tk.rss_all
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