After some initial speculation about a potential bidder, Apple has been revealed as the company set to acquire the majority of Intel’s smartphone modem business for US$1 billion. Under the signed agreement, which is expected to close in 4Q 2019 (subject to regulatory approvals), approximately 2,200 Intel employees (including engineers) will join Apple, along with Intellectual Property (IP), equipment, and leases. Apple will acquire around 8,500 assets from Intel’s patent portfolio, including 6,000 patents related to 3G, 4G, and 5G cellular standards, comprising a combined portfolio of over 17,000 wireless technology patents ranging from protocols for cellular standards to modem architecture and modem operation, which will give the company a significant amount of 5G-related IP.
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