Mindspeed to sell Wireless Infrastructure unit to Intel

Mindspeed Technologies, a leading supplier of semiconductor solutions for network infrastructure, today announced that it has signed a definitive agreement to sell the assets of its wireless infrastructure business unit to Intel.

The asset sale was contemplated by the agreement and plan of merger with M/A-COM Technology Solutions Holdings announced on November 5, 2013. On November 5, 2013, Mindspeed announced that it has entered into a definitive agreement to be acquired by M/A-COM Technology Solutions Holdings, Inc., a leading supplier of high performance RF, microwave and millimeter wave products.

“We are excited that our wireless infrastructure business is being incorporated into Intel,” commented Raouf Y Halim, chief executive officer, Mindspeed.

The parties expect the transaction to close in February 2014 subject to satisfaction or waiver of various closing conditions. Morgan Stanley acted as financial advisor to the board of directors of Mindspeed.

Mindspeed Technologies is a leading provider of network infrastructure semiconductor solutions to the communications industry. The company’s low-power system-on-chip (SoC) products are helping to drive video, voice and data applications in worldwide fiber-optic networks and enable advanced processing for 3G and long-term evolution (LTE) mobile networks.

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