Intel to boost communications with acquisitions-WSJ
NEW YORK, May 8 (Reuters) - Intel Corp. (NasdaqNM:INTC - news) President and Chief Executive Craig Barrett said he would continue building his company's communications business by maintaining an aggressive acquisition strategy, the Wall Street Journal reported in its online edition on Tuesday.
The chip maker, which has spent more than $10 billion on acquisitions in the past two and a half years, told the paper said it has ``been aggressive last year and so far this year and you should extrapolate it (our aggressiveness) going forward.''
The interview was in advance of a speech Tuesday at the Networld-Interop trade show in Las Vegas.
Barrett said the company is looking at smaller acquisitions with key pieces of technology that fit in with Intel's current strategic thrust.
Intel has turned its attention to the communications market as sales have slowed for its microprocessor chips for personal computers, which account for 80 percent of revenues, the paper said.
Separately, Intel said it redeployed employees from its Internet Online Services group to other areas of the company, to help the company cut its headcount by 5,000, the paper said. The company declined to say how many employees were affected, the paper noted.
Shares of Intel closed Monday at $31.16, off a 52-week high of $75.81, up from a year low of $22.25.
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