Intel To Buy Infineon's Wireless Ops for $1.4 bln – Firstpost

German chipmaker Infineon has agreed to sell its wireless unit to Intel for $1.4 billion, enabling the U.S.chipmaker to boost its pesence in the smartphone market. “The acquisition of Infineon’s WLS business strengthens the second pillar of our computing strategy - Internet connectivity - and enables us to offer a portfolio of products,” Intel Chief Executive Paul Otellini said. Three people familiar with the matter had told Reuters on Friday that Intel and Infineon would likely reach an agreement on the future of Infineon’s wireless operations within the next few days. Infineon shares closed down 0.9 percent at 4.61 euros in Frankfurt on Friday, recouping some of the losses they posted after Intel warned that its third-quarter revenue would fall short of its own expectations due to weak consumer demand on personal computers.