Intel and Infineon to announce an agreement on the future of the wireless business of the German company this weekend, said three people familiar with the matter.
The agreement will likely occur over the next two days, the sources told Reuters on Friday, adding that negotiations are close to the outcome with some outstanding details.
It was unclear whether the agreement would involve the sale of the entire drive, generating more than 1 billion euros (1.27 billion dollars), or just a stake in the business.
Both companies declined to comment on the matter.
Headquartered in Neubiberg near Munich, Infineon had reported this month that it is in advanced talks with interested parties in the future of mobile chip unit, whose revenue in fiscal year 2008/2009 stood at 917 million and now represents 30 percent of total revenue of the group.
The deal was in the red for years, but the chief executive of Infineon, Peter Bauer, who took over the company in 2008, managed to reverse the operations.
The company is the fifth place in the industry for memory devices, right behind the giant Qualcomm, Texas Instruments and Broadcom, and provides chips for manufacturers like Nokia, LG and Apple.
Have access to mobile processors from Infineon will help Intel to grow the smartphone market.
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