Apple buys Intel’s smartphone modem business

Illustration by Alex Castro / The Verge Apple will acquire “the majority” of Intel’s smartphone modem business for $1 billion, the two companies announced today. Around 2,200 Intel employees will join Apple, and Apple will acquire IP and equipment from Intel as well. The transaction is expected to close toward the end of the year.
Intel won’t be getting out of the modem business entirely. It’ll still be able to develop modems for PCs, Internet of Things devices, au