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Verizon Communications to Acquire Santa Clara-Based Intel Media
/ January 21, 2014 12:48 pm

verizonintelTelecom giant Verizon Communications said on Tuesday it will acquire Intel Media, a developer of cloud TV products and services, from Santa Clara-based chipmaker Intel. Financial terms of the deal, expected to close later this quarter, were not disclosed. Verizon said the acquisition will accelerate its plans to offer new video services to mobile devices. “The critical factor in gaining efficient access to content is based on your ability to scale quickly in subscribers and end users, which is why selling these assets to Verizon makes perfect sense, with its millions of FiOS network and wireless customers,” said Brian Krzanich, the CEO of Intel. “This sale also enables Intel to further align our focus and resources around advancing our broad computing product portfolio in segments ranging from the Internet-of-Things to data centers.” Verizon said it will make employments offers to all employees at the 350-perszon unit, which will continue to be based in Santa Clara and be led by its current management team. Read more


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