SANTA CLARA, Calif.-Intel Corp. reported it will acquire wireless networking supplier Xircom Inc. for $25 per share in an all-cash tender valued at approximately $748 million. Intel will also assume all existing vested and unvested employee options.
“The acquisition of Xircom provides Intel with an award-winning lineup of products and technologies in the fast-growing mobile computing area,” said Mark Christensen, vice president and general manager of Intel’s Network Communications Group.
Xircom’s board of directors approved the acquisition and unanimously recommended that its shareholders tender their shares pursuant to the offer. Xircom’s shares were up more than $6 per share after the offer was announced to almost $25 per share.
Intel expects the acquisition to be completed during the first quarter.
