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Intel Corporation (INTC - Analyst Report) recently announced that it has entered into a definitive agreement to acquire the assets of the wireless infrastructure business unit of Mindspeed Technologies, Inc . The terms of the deal were, however, not disclosed.

Mindspeed Technologies was formed from the spin-off of the Network Access division of Conexant Systems, Inc. to shareowners on Jun 27, 2003. Mindspeed’s semiconductor portfolio is classified into four main product families: wireless, communications convergence processing (CCP), high-performance analog (HPA) and wide area networking (WAN) communications.

These wireless assets are expected to help Intel products in processing tasks in the data center as well as in transmitting data over wireless networks to mobile devices. Of late, in addition to bringing communication capabilities to mobile devices, Intel is also concentrating on building up its data center assets to serve the mobile market. Intel expects Mindspeed’s technology to fit into base stations and communications equipment.

Intel had entered into negotiations for the acquiring of Mindspeed’s wireless assets only recently, after Mindspeed announced that it had entered into a deal with M/A-COM Technology Solutions Holdings, Inc.

This acquisition of wireless assets will enable Intel to pose fierce competition for chip rivals, Qualcomm (QCOM - Analyst Report) and Mellanox, in the mobile device and data center market.

Intel seems to have taken the same path as Yahoo Inc. (YHOO - Analyst Report), which has been on an acquisition spree of late. Intel acquired Hacker League recently in Dec 2013. Earlier this year, it acquired the HTML5 assets of appMobi followed by the acquisition of Mashery in February.

Intel is poised to register growth in the future by emphasizing on its primary sphere of competencies, expanding its core business lines and by forging manufacturing agreements with other OEM manufacturers instead of adding new business lines and moving into the consumer electronics market with flashy new products.

Intel Corporation is one of the world's largest semiconductor chipmakers. Intel reported third-quarter revenues of $13.48 billion, within the guidance range of 13.5 billion (+/-$500 million). This was up 5.2% sequentially and 0.2% year over year. Intel reported third-quarter revenues of $13.48 billion, up 5.2% sequentially and 0.2% year over year. The reported revenues were within the company’s guidance of 13.5 billion (+/-$500 million).

Currently, Intel has a Zacks Rank # 3 (Hold).

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