By Rob Corder
Intel's Mark Christensen has unveiled plans to acquire mobile-computing equipment maker Xircom Inc. for $748 million in cash to complement its line of desktop-computer components.
Intel Corp. plans to acquire mobile-computing equipment maker Xircom Inc. for $748 million in cash to complement its line of desktop-computer components. Intel will make a $25-per-share offer for all of Xircom's stock within ten days, the companies said.The acquisition is expected to be completed in the first quarter of this year. Upon completion, Xircom will become a wholly-owned subsidiary of Intel. “The acquisition of Xircom provides Intel with an award-winning line-up of products and technologies in the fast-growing mobile-computing area,” said Mark Christensen, Intel vice president and general manager of Intel's Network Communications Group.“Xircom's strengths in small-form-factor design combined with our silicon expertise will allow us to provide customers with new and innovative solutions for linking mobile computing devices to corporate wired and wireless networks,” he said.“The combined strengths of Intel and Xircom will be a tremendous benefit to our customers," said Dirk Gates, Xircom chief executive officer. "Customers will have access to a more complete line of products and will benefit from the innovation our combined companies will apply to mobile computing and wireless networking."