Lantiq’s 100 employees in Israel will likely join Intel when the deal is completed.
Intel Corp. (Nasdaq: INTC) is acquiring German company Lantiq, which has a development center in Israel and operates in the growing field of Internet-of-Things.
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The amount of the acquisition has not been disclosed but market sources believe it is for several hundred million dollars. As far as is known, the 100 or so employees of Lantiq in Israel will join Intel when the deal is completed.
The German company’s Israel development center, which is engaged in wireless communications solutions, was set up after Lantiq acquired Metalink in 2010. Metalink, which was founded by CEO Tzvika Shukhman was struggling financially before the sale.
With a staff of more than 10, 000 in Israel, Intel is already one of the country’s largest employers. Intel has acquired many Israeli companies including in recent years Omek Interactive, Ginger Software and inVision Biometrics.
Published by Globes [online], Israel business news – www.globes-online.com