NEW YORK (AP) -- Intel Corp. on Monday said it has bought most of the assets of SySDSoft, a Egyptian company developing software for communications networks.
It's the first acquisition of its kind for Intel in the Middle East, said Arvind Sodhani, president of investment arm Intel Capital. The acquisition boosts Intel's efforts to develop products for 4G wireless networks.
Financial terms were not disclosed.
"The acquisition shows Intel's continued long-term strategic commitment to the region and its appreciation of its young, growing talent pool," Sodhani said.
The Santa Clara, Calif.-based chip maker has hired about 100 of SySDSoft's electrical engineers and computer scientists, it said.
It's the first acquisition of its kind for Intel in the Middle East, said Arvind Sodhani, president of investment arm Intel Capital. The acquisition boosts Intel's efforts to develop products for 4G wireless networks.
Financial terms were not disclosed.
"The acquisition shows Intel's continued long-term strategic commitment to the region and its appreciation of its young, growing talent pool," Sodhani said.
The Santa Clara, Calif.-based chip maker has hired about 100 of SySDSoft's electrical engineers and computer scientists, it said.