# Apple to acquire Intel's smartphone modem business for $1B

Apple has signed an agreement to acquire the majority of Intel's smartphone modem business for $1 billion, including approximately 2,200 employees, intellectual property, equipment and leases. The deal is expected to close in Q4 2019.

- Type: Acquisition
- Announced: 2019-07-25
- Where: Santa Clara and Cupertino, California, United States
- Value: $1.00B
- Jobs: 2,200
- Status: announced
- Products: smartphone modems, 5G wireless technology
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Apple](https://endata.com/companies/2967.md) (acquirer)
- [Intel](https://endata.com/companies/21062.md) (target)

## Sources

- [intc.com](https://www.intc.com/news-events/press-releases/detail/1090/announcing-5g-smartphone-modem-divestiture), 2019-07-25: "This agreement enables us to focus on developing technology for the 5G network while retaining critical intellectual property and modem technology that our team has created."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.