Intel To Sell Connected Home Division Unit

By John Heerdink LinkedIn

Intel Corporation (INTC) seeks to expand the boundaries of technology to provide the most amazing experience possible while designing, manufacturing, and selling integrated digital technology globally.

Reportedly, Intel is looking for buyers for its connected home division unit. The unit makes chips used in-home internet access gear and generates annual sales of about $450 million, as per sources. The chipmaker has been looking for a financial adviser to seal the deal.

In July, Intel sold its smartphone modem business to Apple Inc. in a $1 billion deal. Intel Chief Executive Officer Bob Swan informed that he is exploring options for areas that are not competitive. A representative from the company declined to comment on the matter.

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(Read Original Story: Intel Seeks Buyers for Home Connectivity Chips Unit in Bloomberg)


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