Intel CFO Stacy Smith told Bloomberg that his company is looking for acquisitions that would help get its processors into smartphones and consumer electronics.
“We are looking at what we believe can accelerate our progress in those markets,” Chief Financial Officer Stacy Smith said in an interview at Bloomberg’s headquarters in New York today. “As we see other opportunities like that, we think it’s a place where we can and will deploy capital.”
Intel, which ended the first quarter with $16.3 billion in cash after reporting record sales for the period, is looking for purchases that mirror its acquisition of software maker Wind River Systems Inc. last year, said Smith, 47. The $884 million takeover gave Intel software that runs devices ranging from cars to mobile phones.