Intel Corp will snap up Texas Instruments' cable modem product line for an undisclosed amount, a move aimed at strengthening the chip maker's presence in the cable industry and related market.
Without divulging any financial details, Intel in a statement today said the deal is expected to close in the fourth quarter of 2010.
Both companies have entered into an agreement for the acquisition of Texas' cable modem product line.
"The purchase enhances Intel's focus on the cable industry and related consumer electronics market segments, where the company's expertise in building advanced system-on-chip (SoC) products... Will be applied," the statement said.
With the deal, Intel plans to bring together both companies' technologies to deliver advanced set top boxes, residential gateway and modem products for the cable industry.
"Adding the talents of the Texas Instruments' cable team to Intel's efforts to bring its advanced technology to consumer electronics makes for a compelling combination," said Bob Ferreira General Manager Cable Segment Intel's Digital Home Group.
"This acquisition specifically strengthens Intel's product offerings for the continuum of cable gateway products and reinforces Intel's continued commitment to the cable industry," Bob Ferreira General Manager (cable segment) at Intel's Digital Home Group, said.
