Intel's cloud TV business sold to Verizon

Verizon said the deal will allow it to take advantage of OnCue, technology developed at Intel that allows viewers to browse through a range of TV channels with a simple interface over an internet connection. Company ceo Lowell C. McAdam added that the acqisition would "help Verizon bring next generation video services to audiences who increasingly expect to view content when, where and how they want it." The terms of the deal were not disclosed, but it is expected to close this quarter after receiving regulatory approval. Intel ceo Brian Krzanich, pictured, commented: "The critical factor in gaining efficient access to content is based on your ability to scale quickly in subscribers and end users, which is why selling these assets to Verizon makes perfect sense, with its millions of FiOS network and wireless customers." Krzanich said the deal would enable Intel to focus its efforts on its computing product portfolio, "in segments ranging from the Internet of Things to data centres."