Intel to buy networking business from Avago Technologies

Intel to buy networking business from Avago Technologies

The chipmaker said it will pay $650 million to purchase the networking business, which will help expand its product portfolio.

"This acquisition puts us in a better position to provide a complete product portfolio for our customers and to continue to enable service providers to create networks that are more intelligent, efficient and cost-effective and to deploy new services faster," wrote Rose Schooler, an Intel vice president and manager of its communications and storage business.

As a result of the deal, she said, Intel plans to integrate networking technologies into its systems on a chip (SoCs), enabling better performance in data centers and communication within the Internet of things – an industry term that refers to computing embedded in everyday devices, like cars, clothing and appliances.

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