Verizon to buy Intel's TV business2014-01-21 09:05 by DanielaTags: Verizon, Intel
Verizon Communications Inc. and Intel Corporation today announced an agreement for Verizon to purchase from Intel the assets of Intel Media, a business division dedicated to the development of Cloud TV products and services. The transaction will accelerate the availability of next-generation video services, both integrated with Verizon FiOS fiber-optic networks and delivered "over the top" to any device. Verizon will purchase intellectual property rights and other assets that enable Intel's OnCue Cloud TV platform. Verizon will also make employment offers to substantially all of the approximately 350-person Intel unit, which will continue to be based in Santa Clara and be led by its current management team. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close early in the first quarter of 2014. Once the transaction is closed, Verizon expects to integrate IP-based TV services with FiOS video to further differentiate FiOS from traditional cable TV offerings and to reduce ongoing deployment costs. FiOS customers are also expected to benefit from elegant search and discovery, interactivity and cross-screen ease of use - integrated with the Verizon Wireless 4G LTE network. Read more -here-
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