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Technology Stocks : Intel Corporation (INTC)
INTC 35.53-1.1%Nov 14 9:30 AM EST
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To: MONACO who wrote (75391)3/4/1999 5:38:00 PM
From: Amy J  Read Replies (3) of 186894
 
Monaco, Re: What does Level One Communications Inc. bring to the table?

"The acquisition marks a significant push by Intel to move into the fast-growing networking market, where it said it will now become a leading component supplier.

"We're continuing to look for other acquisition candidates," said Intel chief executive Craig Barrett. "We are deadly serious about our networking communications group."

Barrett said today's merger "provides us with the silicon building blocks necessary to supply the rapidly growing demands created by the Internet and e-commerce."

Level One's chips contain built-in communications features, used by network-equipment makers such as 3Com, Cisco, and Hewlett-Packard to save costs by reducing the parts in their gear.

The transaction is expected to be completed by the end of the second quarter, at which time Level One will become a wholly-owned subsidiary of Intel. Level One's 800 employees will be transferred to this subsidiary.

While the market for networking equipment continues to grow by leaps and bounds as use of the Internet expands, Intel is facing pricing pressures at the low end of the x86 processor market from Advanced Micro Devices. Today's move will help insulate Intel's profit margins in the volatile market for PC chips.

Bloomberg contributed to this report.

Amy J
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