Mindspeed Technologies Inc., a leading supplier of semiconductor solutions for network infrastructure, announced that it has signed a definitive agreement to sell the assets of its wireless infrastructure business unit to Intel Corp. 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 ofMindspeed.
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. Further details of the transaction can be found in the Current Report on Form 8-K filed with the SEC by Mindspeed today.