LONDON (03/21/2000) - Intel Corp. has agreed to acquire network processor provider Basis Communications Corp. in a deal valued at US$450 million, Intel announced today.
The deal, which will be an exchange of cash and assumed options, is still subject to regulatory approval, Intel said in a statement.
Basis develops a line of communications technology called Service-Specific Network Processors for companies that are developing next generation telecommunications access equipment. Intel plans to integrate the Basis product line into its own Internet Exchange (IX) Architecture, Intel said.
Intel began expanding its networking division last September, when the company announced the first network processors in its IX Architecture line. [See "Intel Gets Serious About Networking," Sept. 1, 1999.]Upon finalization of the deal, Basis will become a wholly owned subsidiary of Intel, operating under Intel's Network Communications Group, the company said.
Basis has offices in Westford, Massachusetts, Clearwater, Florida and Shannon, Ireland, along with its headquarters in Fremont, California.
Intel, in Santa Clara, California, can be reached at +1-408-987-8080 or at http://www.intel.com/. Basis, in Fremont, California, can be contacted at +1-510-668-0107, or at http://www.basiscomm.com/.