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

To: Barry Grossman who wrote (100876)	3/15/2000 7:05:00 AM
From: Road Walker	Respond to of 186894

Interesting... cbs.marketwatch.com Intel grabs Denmark's GIGA A/S Chip giant paying $1.25 billion in cash By August Cole, CBS MarketWatch Last Update: 4:49 AM ET Mar 15, 2000 Market Pulse Movers & Shakers SANTA CLARA, Calif. (CBS.MW) -- Chip manufacturer Intel announced early Wednesday it will acquire Denmark's GIGA A/S, a manufacturer of network technology components, for $1.25 billion in cash. Intel said the acquisition should give it further design and manufacturing capacity in the fiber-optic infrastructure market, an area seen as a cornerstone for faster Internet access. Copenhagen-based GIGA, a unit of Danish conglomerate NKT Holdings A/S, makes high-speed communications chips used in optical networking and communications products that direct Internet traffic. After the deal closes, GIGA will become an Intel subsidiary within Level One Communications. "This new optical communications chip design capability, combined with our existing Level One Communications, Inc., design team, gives Intel key new products and expertise to address the rapidly growing demand for high-bandwidth communications infrastructure," said Mark Christensen, of Intel's Network Communications Group, in a press release. Shares of Giga's parent NKT Holdings catapulted 210 Danish Krone, or 23.6 percent, to 1,100 in Copenhagen, while shares of Intel (INTC: news, msgs) closed down 4 1/4, or 3.5 percent, at 117 7/8 in the U.S. Tuesday.