Intel buys ST-Ericsson’s GNSS assets for $90million
ST-Ericsson, the failed communications joint venture, has sold the assets and IP associated with its Global Navigation Satellite System (GNSS) business to Intel, reportedly for $90million. Along with the assets and IP, the deal also sees 130 staff located around the world transferring to Intel.
According to Carlo Ferro, pictured, ST-Ericsson's president and ceo, the transaction validates the company's innovation and marks an important step towards its dissolution
"I am pleased that this organisation will continue to develop leading edge technologies and delighted that the team has found a new home at a leading player in the semiconductor industry," he said.
Having been involved with GPS since the early days of the technology, ST-Ericsson has recently added Glonass capability to its product range.
