SAN FRANCISCO, Aug. 16 (Xinhua) -- Intel Corp. on Monday announced that it is buying Texas Instruments Inc.(TI)'s cable modem product line, a purchase the world's largest chip maker believed will enhance its focus on cable industry and related consumer electronics markets.
Intel said it plans to combine TI's technologies with its own to deliver advanced set-top box , residential gateway and modem products for the cable industry.
"Adding the talents of the Texas Instruments' cable team to Intel's efforts to bring its advanced technology to consumer electronics makes for a compelling combination," Bob Ferreira, an executive of Intel's Digital Home Group, said in a statement.
The transaction is expected to close in the fourth quarter this year, Intel said, without disclosing further terms.
Intel said all employees of TI's cable modem team received offers to join Intel at sites in their home countries, primarily in Israel, and will become part of Intel's Digital Home Group.