Intel's first buy under Krzanich is ST-Ericsson's GPS division

Well, that didn't take long. Even though Brian Krzanich took over the reins at Intel a mere 12 days ago, he's already authorized his first-ever acquisition. The chip giant announced it has purchased ST-Ericsson's satellite navigation chip business unit, which was put up for sale as a result of the latter's dissolving joint venture. Though terms haven't been disclosed, the sale is said to have reduced the Swiss manufacturer's annual need for cash by around $90 million. As for the sat nav unit, it'll become a part of Intel's mobile chip outfit headed under smartphone chief Mike Bell. It's all certainly in line with Krzanich's recent promise to make Intel more competitive in mobile, which should be key in its ever growing battle with that other mobile chip architecture.

Filed under: Cellphones, Networking, Intel

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Source: AllThingsD