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Intersil to sell wireless networking group

Posted: 17 Jul 2003 ?? ?Print Version ?Bookmark and Share

Keywords:wireless networking? intersil? globespanvirata?

Intersil Corp. has agreed to sell its Wireless Networking Product Group to GlobespanVirata Inc. worth $365 million. The acquisition will include Intersil's portfolio of PRISM-based wireless networking products and intellectual property (IP), as well as the design, marketing, sales, applications teams, and support operations. The Wireless Networking Product Group is comprised of around 300 employees.

Rich Beyer, president and CEO of Intersil, said, "As the 802.11 WLAN market continues its strong growth, this technology is increasingly becoming an integral part of the communications, computer and consumer landscape. The challenges of this WLAN evolution are resulting in even greater differences in the business models of Intersil's High Performance Analog Product Groups and its Wireless Networking Product Group. We have made a strategic decision to focus our technology and resources entirely on our leadership positions in high performance analog. As WLAN technology continues to migrate into new applications from broadband modems to cellphones, we believe the required capabilities to address this trend fit perfectly with the strategy and competencies of GlobespanVirata."

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