Apple Held Talks With Intel About Acquiring Its Modem Chip Business [Report]

Apple held talks with Intel about acquiring parts of its smartphone modem chip business, reports the WSJ. The potential multi-billion dollar deal would have helped the company accelerate its efforts with build its own modem.

The talks reportedly began last summer and continued for months before halting around the time Apple reached a deal with rival Qualcomm.

Intel is now exploring strategic alternatives for its modem chip business, including a possible sale—to Apple or another acquirer, the people said. It has already received expressions of interest from a number of parties and has hired Goldman Sachs Group Inc. to manage the process, which is in an early stage. Should there be a deal, it could yield as much as a few billion dollars for Intel, some of the people said.

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