Intel is to purchase circuit-board maker Ziatech for $US240 million in cash -- an acquisition made to improve Intel's presence in the telecommunications equipment market, the company announced Monday.
Ziatech, a 24-year-old privately held company based in San Luis Obispo, California, designs and markets Intel-architecture circuit boards and hardware platforms primarily for telecommunication equipment manufacturers, according to Intel's statement.
The deal is subject to regulatory review and customary closing conditions. Upon completion, Ziatech will become a wholly owned subsidiary of Intel, and its approximately 200 employees will become part of Intel's Communications Products Group, Intel said.
Intel, based in Santa Clara, California, can be reached at +1-408-987-8080 or at http://www.intel.com/. Ziatech, in San Luis Obispo, California, can be reached at +1-805-541-5088 or at http://www.ziatech.com/.