Intel to sell its communications businesses?

Posted on Tuesday, June 06 2006 @ 9:01 CEST by Thomas De Maesschalck
Mercury News takes a look at Intel's business and claims several of the company's money-losing communications businesses will be put up for sale:
Intel paid more than $10 billion for its entire collection of communications businesses over the past decade as it sought to diversify beyond chips for personal computers. But the businesses are losing money and no longer have the value they once had in the pre-bubble days.

Intel spokesman Robert Manetta declined to comment when asked about the potential sales. The Mercury News received details from sources who have seen documents describing the businesses for sale and spoke on the condition they not be identified.

The decision to sell off some of these businesses is tantamount to an admission that the company's biggest diversification effort in its decades of existence turned out to be a failure.
More information can be read over here.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

Loading Comments