SACRAMENTO, Calif.-Level One Communications Inc., Sacramento, Calif., has agreed to be
acquired by Intel Corp. in a $2.2 billion stock swap that is expected to close by mid-year.
“The transaction is
one of a series of actions taken by Intel to broaden it presence in the networking industry,” said Bruce Hyman, an
analyst for Standard & Poor’s Corp., New York.
Level One designs chips used in ethernet-based campus data
networks and in telecommunications carrier T1 and E1 digital transmission systems.
