Santa Clara, Calif. – Intel, the Santa Clara-based chip-making giant, said it will acquire Telmap, an Israel-based developer of mobile navigation and location-based services. The purchase price is expected to be between $300-$350 million, Reuters reported, citing Israeli media reports.
“This move is a step towards expanding our mobile software services capabilities as Intel continues to grow in the area of software and services,” Intel wrote in a blog post. “With Telmap we can directly provide developers with location-based services spanning devices, operating systems and CPU architectures.”
Telmap, which has North American offices in New Jersey, will become a unit of Intel.
This article was also published in Bay Area Tech Wire.
Related links:
Intel blog – http://tinyurl.com/5uvxubs
Reuters – http://tinyurl.com/6jjhke8
Photo by flickr user huangjiahui, used under Creative Commons license
