Marvell to pay $600m. for Intel Petah Tikva unit

Marvell Technology Group Ltd. and Intel Corp. announced an agreement for Marvell to buy Intel's communications and applications processor business, including Intel's Petah Tikva operations, for $600m.

By SUSAN LERNER
June 28, 2006 08:12
1 minute read.
marvell tech intel 88

marvell tech intel 88 . (photo credit: )

 
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Marvell Technology Group Ltd. and Intel Corp. announced an agreement Tuesday for Marvell to buy Intel's communications and applications processor business, including Intel's Petah Tikva operations, for $600 million. Intel's communications and application processor business develops and sells processors for handheld devices, including smart phones and personal digital assistants. The business's processors, based on Intel XScale technology, include the Intel PXA9xx communications processor, codenamed "Hermon," and the Intel PXA27x applications processor, codenamed "Bulverde." The business sold includes some 1,400 employees, the vast majority of whom were expected to become employees of Marvell. A spokesperson for Intel Israel said most of the 500 Intel employees in Petah Tikva, known as Intel PTK, also were expected to continue to work for Marvell. Intel continues to operate several facilities in the country, including those in Kiryat Gat, Jerusalem and Haifa where, it was revealed Monday, the world's largest chipmaker's latest breakthrough technology - the Woodcrest chip, which is expected to be the company's fastest ramping technology ever - was developed In another deal with an Israeli connection, Univision Communications Inc., the leading Spanish-language media company in the US, signed a definitive agreement to be acquired for $36.25 per share in cash, or approximately $13.7 billion, including the assumption of $1.4b. in debt, by a group including Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and the Saban Capital Group, which is controlled by Israeli Haim Saban. Univision's assets include the Univision Network, which ranks as the #1 Spanish-language TV network and fifth largest network in the US , and a radio group.

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