Intel Buys ST-Ericsson's GPS Business
ST-Ericsson today revealed that it has sold its mobile GPS business to Intel for an undisclosed sum. ST-Ericsson is a joint venture between STMicroelectronics and Ericsson. The two parent companies revealed earlier this year that they were preparing to wind the struggling venture down. ST-Ericsson's GPS-related assets and engineers will be added to Intel's existing GPS business. Intel, which recently named a new CEO, is making a concerted push to become a mainstream player in the mobile chip business. This acquisition can help it in that pursuit.