ST-Ericsson’s GPS Division Bought By Intel

Brian Krzanich

It has been just over a week since Brian Krzanich took charge of Intel, and it seems that the new man in charge has been busy. Not waiting to ease into his tenure, Brian Krzanich has made his first acquisition in the form of ST-Ericsson’s satellite navigation chip business unit. The unit became available recently after a failed joint venture, and while a price tag has not been announced, rumors are already abounding that ST-Ericsson’s satellite will lose its $90 million cash problem. The satellite navigation chip business unit will merge with Intel’s mobile chip outfit headed under smartphone chief Mike Bell.

This acquisition falls into line with Brian Krzanich’s stated goal of taking Intel into a more competitive place within the mobile market. With big promises come big expectations and if this is just a sign of Brian Krzanich’s ability, this early in the game, then Intel could be looking at even more profitable futures.

Source: Engadget