NEW YORK (CNNMoney.com) -- Intel will buy Texas Instruments' cable modem product line, the company said Monday.
The deal should close in the fourth quarter of 2010, Intel said in a statement. Further terms of the acquisition, including the cost, were not disclosed.
The move is part of Intel's continued effort to sell its computer chips to the cable industry and to other consumer electronics sectors. The so-called "system-on-chip" products will be based on Intel's Atom processors.
Texas Instruments' (TI) cable modem unit will become part of Intel's Digital Home Group. Intel said all affected TI employees have been offered jobs at Intel sites in their home countries, primarily Israel.
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