Intel Corp said on Monday that it would buy the cable modem product line of chip maker Texas Instruments Inc in order to expand its consumer electronics chip business.
Intel did not disclose the terms of the deal, which it expects to close in the fourth quarter, subject to regulatory approval. After the deal it said it plans to combine TI products with Intel chips for advanced television set-top boxes and modems.Intel said it had offered all employees of the TI cable modem team the opportunity to join its Digital Home Group in their home countries. The workers are based primarily in Israel.