Startup Running By an Indian Secretly Bought By Intel at $300 Million (2000 Crore)
Chip design maker Intel Corp. has secretly acquired silicon valley semiconductor startup called Soft Machines Inc about $300 million (cash-cum-stock deal ) to maintain its leadership position.
The news was first reported by technology website The Register. The team of Soft Machines have become part of Intel from Thursday.
This new deal is on the heals of Intel shedding as part of a spinout their security unit into a new company that will be owned in-part by private equity firm TPG. Intel will retain a 49 percent ownership stake of the entity with TPG taking the majority stake. In exchange, Intel will be receiving $3.1 billion in cash.
Soft Machines is a semiconductor company co-developing VISC architecture-based processor and SoC products for all major performance computing platforms a...