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Friday, October 22, 1999 | return to: local
Intel buys Israeli chip, software firm for $1.6 billion
by JERUSALEM (JPS) -- Global giant Intel will purchase DSP Communications for $1.6 billion in cash in the biggest buyout deal in Is, Santa Clara-based Intel, the largest chip maker in the world, announced last week that it has entered into a definitive agreemen
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David Gilo founded DSPC 14 years ago. It employs about 300 people, 250 of whom work just outside of Tel Aviv. The firm is now headquartered in Cupertino, though most of its activity is still in Israel. Under the agreement, which should be finalized within two months, DSPC will become a wholly owned subsidiary of Intel.
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