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Qualcomm approached Intel about a takeover in recent days, source says

Qualcomm has in recent days approached Intel to explore a potential acquisition of the troubled chipmaker, a source familiar with the situation, in what could be a transformational deal in the sector but faces many hurdles.

By Priya Khosla September 24, 2024

Source: Reuters

Qualcomm CEO Cristiano Amon is personally involved in the negotiations to acquire five-decade-old Intel, according to the source who was briefed on the matter. Another person familiar with the situation said Amon has been actively examining various options for a deal for the company.

Reuters reported that Qualcomm explored the possibility of acquiring portions of Intel's design business and that its PC design unit was of particular interest. Qualcomm executives were examining Intel's entire portfolio of businesses.

The conversations with Intel are at an early stage. The San Diego-based company has not made a formal offer for Intel, according to third person familiar with the matter.

A bid would mark the biggest takeover attempt in the technology industry since Broadcom sought to buy Qualcomm for $142 billion in 2018.

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