Intel's first buy under Krzanich is ST-Ericsson's GPS division

Intel's first buy under Krzanich is ST-Ericsson's GPS division data = {blogUrl: "www.engadget.com",v: 315};when = {jquery: lab.scriptBs("jquery"),plugins: lab.scriptBs("plugins"),eng: lab.scriptBs("eng")}; var s265prop9 = ('20586297' !== '') ? 'bsd:20586297' : ''; var postID = '20586297'; var modalMNo = '93319229', modalVideoMNo = '93320648', modalGalleryMNo = '93304207'; when.eng("eng.omni.init", {pfxID:"weg",pageName:document.title,server:"acp-ld39.websys.aol.com",channel:"us.engadget", s_account: "aolwbengadget,aolsvc", short_url: "",pageType:"",linkInternalFilters:"javascript:,",prop1:"article",prop2:"cellphones",prop9:s265prop9,prop12:document.location,prop17:"",prop18:"",prop19:"",prop20:"", prop22:"nicole-lee", prop54:"blogsmith",mmxgo: true }); adSendTerms('1')adSetMOAT('1');adSetAdURL('/_uac/adpagem.html');lab._script("http://o.aolcdn.com/os/ads/adhesion/js/adhads-min.js").wait(function(){var floatingAd = new AdhesiveAd("348-14-15-14d",{hideOnSwipe:true});}); onBreak({980: function () { adSetType("F");htmlAdWH("93319229", "LB", "LB"); adSetType("");}}); EngadgetMenu NewsReviews Features Galleries VideosEventsPodcasts Engadget ShowTopics Buyers Guides Sagas Store HD Mobile Alt Announcements Cameras Cellphones Desktops Displays Gaming GPS Handhelds Home Entertainment Household Internet Laptops Meta Misc Networking Peripherals Podcasts Robots Portable Audio/Video Science Software Storage Tablets Transportation Wearables Wireless Acer Amazon AMD Apple ASUS AT&T Blackberry Canon Dell Facebook Google HP HTC Intel Lenovo LG Microsoft Nikon Nintendo Nokia NVIDIA Samsung Sony Sprint T-Mobile Verizon About UsSubscribeLike Engadget@engadgettip uswhen.eng("eng.nav.init")when.eng("eng.tips.init") onBreak({980: function () {htmlAdWH("93308280", "215", "35",'AJAX','ajaxsponsor');}});Intel's first buy under Krzanich is ST-Ericsson's GPS divisionByNicole LeepostedMay 28th, 2013 at 10:54 PM 0

Well, that didn't take long. Even though Brian Krzanich took over the reins at Intel a mere 12 days ago, he's already authorized his first-ever acquisition. The chip giant announced it has purchased ST-Ericsson's satellite navigation chip business unit, which was put up for sale as a result of the latter's dissolving joint venture. Though terms haven't been disclosed, the sale is said to have reduced the Swiss manufacturer's annual need for cash by around $90 million. As for the sat nav unit, it'll become a part of Intel's mobile chip outfit headed under smartphone chief Mike Bell. It's all certainly in line with Krzanich's recent promise to make Intel more competitive in mobile, which should be key in its ever growing battle with that other mobile chip architecture.

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Source: AllThingsD

Tags: briankrzanich, ceo, gps, intel, st-ericsson

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