Product category: Communications ICs (Wired)
News Release from: Intersil
Edited by the Electronicstalk Editorial Team on 22 July 2003
Intersil to quit wireless LAN market
Intersil has entered into a definitive agreement to sell its Wireless Networking Product Group to GlobespanVirata.
Intersil has entered into a definitive agreement to sell its Wireless Networking Product Group to GlobespanVirata The sale price is approximately $365 million and will be paid in cash and stock
This article was originally published on Electronicstalk on 8 Jan 2001 at 8.00am (UK)
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Intersil expects to finalise the sale before the end of the third quarter of 2003 and expects to report a one-time gain on the transaction.
"Intersil has been instrumental in creating the wireless local area networking (WLAN) market and our team has done an outstanding job over the past five years making us the acknowledged industry leader under our Prism brand", said Rich Beyer, President and CEO of Intersil.
"As the 802.11 WLAN market continues its strong growth, this technology is increasingly becoming an integral part of the communications, computer and consumer landscape.