Intel buys Infineon wireless

As per the management email sent to Infineon employees this morning, Infineon and Intel have signed the contracts related to the sale of Infineon's Wireless business to Intel Corporation for a sum of approximately US Dollars 1.4bn. Initial reports suggest that IFX's Wireless division is to become a standalone business including all related functions within the Intel group. According to the latest status they expect around 3,400 Infineon employees worldwide will transfer to the new company.