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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Tony Viola who wrote (98159)	2/3/2000 10:53:00 AM
From: Proud_Infidel	Respond to of 186894

Tony & Intel investors: Intel to acquire India's Thinkit as part of expansion in communications Semiconductor Business News (02/03/00, 08:46:01 AM EDT) BANGALORE, India--Intel Corp. here today announced plans to acquire a privately held developer of advanced chips used in networking and communications systems, such as switches and routers. The cash purchase of Bangalore-based Thinkit Technologies Inc. and its wholly owned subsidiary, Software & Silicon Systems Pvt. Ltd., will be Intel's 11th acquisition related to networking and communications since January 1999. "Adding this new silicon design expertise provides Intel with additional resources for advancing the Intel Internet Exchange architecture," said Mark Christensen, vice president and general manager of Intel's Network Communications Group. "This, in turn, will help enable networking and communications systems companies to build faster, more intelligent networks." The Intel Internet Exchange architecture was launched last September by the Santa Clara, Calif., chip giant to act as a comprehensive "blueprint" for building next-generation networking equipment. The Intel IX architecture uses programmable silicon to allow new functions and features to be added to networking equipment quickly and cost effectively. Intel did not disclose the terms of the planned acquisition. Upon completion of the transaction, Thinkit will become a wholly owned subsidiary of Intel and part of the company's Network Communications Group. Bangalore-based Software & Silicon Systems currently designs communications chips for Intel's Level One Communications subsidiary, which was last year for about $2 billion in stock (see March 4, 1999, story). When the acquisition of Thinkit is completed, Intel said it will operate communications chip design facilities at more than a dozen sites worldwide. "Chips for networking and communication infrastructure are pushing the edge of silicon technology and tools," said Sridhar Mathani, president of Thinkit and managing director of the Software & Silicon Systems subsidiary. "Our expertise in designing multimillion gate communication chips coupled with Intel's market segment focus will speed time-to-market and provide Intel's customers with high performance, cost effective and adaptable solutions." Intel has been expanding its presence in India since first setting up an operation in Bangalore in 1988. It also operates offices in Chennai, Mumbai, New Delhi, Ahmedabad and Calcutta. Last year, Intel announced the creation of a development center in Bangalore to provide software development support for the company.