(Reuters) – Qualcomm has approached chipmaker Intel in recent days about potentially buying part of its business, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Two sources familiar with the matter told Reuters in early September that Qualcomm was exploring the possibility of buying parts of Intel’s design business to strengthen its product portfolio.
The mobile phone chipmaker is considering acquiring businesses from Intel, which is struggling to generate cash and is looking to offload some assets, the people said.
An Intel spokesperson said at the time that Qualcomm had not contacted the company about a potential acquisition.
According to the Wall Street Journal, that approach came in recent days, as Intel’s board met last week to consider a proposal from Chief Executive Pat Gelsinger to shrink the business.
Neither Qualcomm nor Intel immediately responded to Reuters’ requests for comment on the Wall Street Journal’s report.
(Written by Harshita Mary Varghese in Bangalore, Tangi Salaün)
Copyright © 2024 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
