INTEL TO BUY CHIP MAKER LEVEL ONE.Byline: Noelle Knox Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Intel Corp., the world's largest maker of personal computer chips, said Thursday it would buy Level One Communications, a small rival, for $2.2 billion in stock in a move to sharpen sharp·en tr. & intr.v. sharp·ened, sharp·en·ing, sharp·ens To make or become sharp or sharper. sharp Intel's competitive edge in the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the equipment market. Level One's 800 employees would keep their jobs as the Sacramento-based company becomes a subsidiary of Intel. The deal ``provides us with the silicon building blocks necessary to supply the rapidly growing demands created by the Internet and e-commerce,'' Craig Barrett Craig Barrett may refer to:
Intel's computer chips supply the brainpower brain·pow·er n. 1. Intellectual capacity. 2. People of well-developed mental abilities: a country that doesn't value its brainpower. Noun 1. for about 80 percent of the world's personal computers, but the Santa Clara-based company has been striving to expand into new markets to counteract the slowing sales of PCs. That's where Level One comes in. The company specializes in chips used in high-speed networks that carry voice, data and Internet transmissions. Under the terms of the deal, Level One shareholders will get 0.43 of an Intel share, worth about $48.75, in exchange for each Level One share. |
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