30 August 2010
Last updated at 14:03 ET
US chipmaker Intel has agreed to buy the wireless unit of German counterpart Infineon for $1.4bn �905m in cash.
The deal was widely anticipated; however, Infineon had been expected to obtain a higher price for the business, which makes chips for Apples iPhones.
Infineons share price fell 3.7% on the news, making it the days worst performer in Germanys Dax index.
The news follows Intels announcement on 19 August that it would buy security software company McAfee for $7.68bn.
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