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Intel chips in for IPivot
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October 5, 1999: 10:43 a.m. ET
World's top chip maker will acquire Net commerce company in $500M deal
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NEW YORK (CNNfn) - Intel Corp., the world's No.1 semiconductor maker, said Tuesday it will acquire Internet commerce equipment maker IPivot Inc. for about $500 million in cash.
Santa Clara, Calif.-based Intel said the acquisition of the privately held IPivot is aimed at helping customers manage the large volumes of Internet traffic sparked by the growth of e-commerce more securely and efficiently.
Founded in 1996, the Poway, Calif.-based IPivot develops network infrastructure products to enhance transactions processing on Web sites, intranets and networks.
The company's systems "intelligently" determine where data should be processed and send the request to servers that can deliver the best response time. Ipivot also provides products that improve Internet performance by accelerating certain security functions.
IPivot marks Intel's third acquisition in the high growth Internet commerce equipment market segment and the eighth networking- and communications-related acquisition overall this year.
Shares of Intel (INTC) dipped 1/16 to 76-15/16 in recent trading.
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Intel
IPivot Inc.
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