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Intel buys ST-Ericsson”s GNSS business

Paris: ST-Ericsson has sold its GNSS mobile business to Intel. ST-Ericsson, which focuses on mobile and wireless chips, announced the sale without naming the buyer. An Intel spokesman later said the US chipmaker bought the assets.

Neither company revealed the price, but ST-Ericsson said the proceeds from the sale, combined with the avoidance of employee restructuring charges and other related restructuring costs, would reduce the joint venture”s cash needs by approximately $90 million.

It is expected that the GNSS engineering team and its leadership, which has a combined total of about 130 employees will be integrated into Intel”s Mobile and Communications Group”s Wireless Platform R&D (WPRD) division.

Source: TOI & ZDnet