Back in May we talked about rumors that Intel will acquire German chipmaker Infineon as part of its plans to conquer the mobile market. It seems things are moving forward in that direction, or at least brokers at the Frankfurt stock exchange believe so, causing Infineon’s shares to jump as much as 0.13 EUR (to 5.14 EUR).
The rumor is that Infineon hired JP Morgan Chase as an advisor to help them get the best possible deal from the US chip maker.
According to Bloomberg, Infineon’s mobile solutions business produced revenues of 917 million EUR ($1.13 billion) in sales in the 12 months ended September 2009, which is about 30% of the company’s total revenues. During the first six months of the current fiscal year, the unit’s sales rose 34% to 537 million EUR…
We’ll definitely watch closely Intel’s “mobile moves” and keep you folks in the loop.
In related news, we recently saw Intel acquiring Israeli mobile chip firm – Comsys.
[Via: MobileBusinessBriefing]