Could it be Intel envy?
Applied Micro Circuits Corp. (AMCC) (Nasdaq: AMCC) is acquiring assets related to IBM Corp. (NYSE: IBM) microprocessors, a move that could let AMCC's network processors match the integrated offerings of Intel Corp. (Nasdaq: INTC).
AMCC is acquiring intellectual property and assets related to IBM's PowerPC 400 line of microprocessors for $227 million in cash, the companies announced today. The deal includes an option for AMCC to buy $5 million more in IBM assets (see AMCC Pays $227M for IBM IP).
AMCC expects to pick up 70 IBM employees as part of the deal, which is expected to close before June 30.
This marks AMCC's second deal with IBM's chip organization. The first was the acquisition of IBM's switch fabric operations, including a design team based in France (see AMCC Switches On IBM's Fabric).
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