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.
Intel (INTC, Fortune 500) wants those products to be available on set top boxes, digital TVs, Blu-Ray players and other devices.
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. 
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
|
Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More |
Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More |
Honda and General Motors are creating a new generation of fully autonomous vehicles. More |
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More |
Whether you hedge inflation or look for a return that outpaces inflation, here's how to prepare. More |
