INTC,XIRC
Intel to buy Xircom for $748 mln
NEW YORK, Jan 15 (Reuters) - Intel Corp. (NASDAQ:INTC), the world's largest computer chip maker, and Xircom Inc. (NASDAQ:XIRC) said Intel agreed to acquire the maker of mobile computing gear for $748 million to complement its line of desktop computer components.
Intel will make a $25.00 a share tender offer for all of Xircom's stock within ten days, the companies said. Xircom shares closed at $18-1/16 on Friday, Jan. 11.
The acquisition is expected to be completed in the first quarter of this year, the companies said. Upon completion of the acquisition, Xircom will become a wholly owned subsidiary of Santa Clara, Calif.-based Intel.
"The acquisition of Xircom provides Intel with an award winning lineup of products and technologies in the fast growing mobile computing area," Mark Christensen, Intel vice president and general manager of Intel's Network Communications Group, said in a statement. "Xircom's strengths in small-form-factor design combined with our silicon expertise will allow us to provide customers with new and innovative solutions for linking mobile computing devices to corporate wired and wireless networks."
Thousand Oaks, Calif.-based Xircom had revenues of $492 million over the past four quarters and has 1,900 employees worldwide.
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01/15 13:46 Reuters
Intel to buy Xircom for $748 mln
01/15 13:46 Reuters
Intel to buy Xircom for $748 mln
01/15 13:46 Reuters
Intel to buy Xircom for $748 mln
01/15 13:30 Business Wire
Intel to Acquire Xircom for Approximately $748 Million
01/15 05:42 PrimeZone Media Network
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