Communication semiconductor IC developer Mindspeed has signed a definitive agreement to sell the assets of its wireless infrastructure business unit to Intel Corporation . Mindspeed says the asset sale was contemplated by the agreement and plan of merger with M/A-COM Technology Solutions Holdings, Inc. announced on November 5, 2013.
"We are excited that our wireless infrastructure business is being incorporated into Intel," commented Raouf Y. Halim, chief executive officer of Mindspeed.
The parties expect the transaction to close in February 2014 subject to satisfaction or waiver of various closing conditions. Morgan Stanley & Co. LLC acted as financial advisor to the board of directors of Mindspeed.