announced that it will be selling off its telecom optical platform business to Emcore. Emcore will purchase Intel’s telecom optical platform business to add to their fiber optics products lineup. The sale really amounts to Intel refocusing on its core business and moving away from areas that are not in line with current company initiatives.
Emcore will pay Intel $85 million for the Telecom assets and intellectual property. Intel will continue to ponder what is going to be next for the enterprise part of their optical platform division after the sale is completed. The deal is expected to close at some point during the first quarter of 2008.
Read the press release here