BREAKING: Intel Acquires Egypt-based SySDSoft
Intel Corporation made its first acquisition in the Arab world, today it announced through its standalone business entity Intel Mobile Communications, that it has acquired most of the assets of SySDSoft, a privately held software company based in Cairo and hired approximately 100 of the company’s electrical engineers and computer scientists. SySDSoft designs IP based solutions in the software stack and physical layer domain, and RF/analog circuits embedded in mobile platforms. Its product portfolio covers technologies such as WiMAX, Wi-Fi, Bluetooth, Wireless USB, and LTE.
This news is great for Egypt post-revolution and to the Arab world, as now more and more investors see the exit window for their hight tech investments open again. Lets not forget Yahoo Maktoob deal that brought excitement and was like an energizer to the Internet industry. Hope next time we break news at AC it will be an IPO for an Arab startup.
Here is the full press release from Intel, we do not know how much the acquisition was for:
Intel Acquires Egypt-based SySDSoftCAIRO, Egypt and SANTA CLARA, Calif., March 14, 2011 – Intel Corporation, through its standalone business entity Intel Mobile Communications, today announced that it has acquired most of the assets of SySDSoft, a privately held software company based in Cairo and hired approximately 100 of the company’s electrical engineers and computer scientists. SySDSoft designs state-of-the-art IP solutions in the software stack and physical layer domain, and RF/analog circuits embedded in mobile platforms.“The acquisition of engineering and design talent from an Egypt-based company in the field of cutting-edge wireless and communication technology is the first of its kind for Intel in the Middle East,” said Arvind Sodhani, president, Intel Capital and executive vice president, Intel. “The acquisition shows Intel’s continued long-term strategic commitment to the region and its appreciation of its young, growing talent pool.”SySDSoft’s solutions enhance Intel Mobile Communications’ existing multi-communications portfolio, specifically accelerating its 4G LTE efforts with the addition of leading software development and design capabilities. Intel Mobile Communications is an integral part of Intel’s strategy to accelerate always-connected computing platforms founded on energy-efficient performance, Internet connectivity and security, and spanning a variety of device and market segments, including laptops, cars, smart phones, tablets and TVs.“As we enter an era of multi-communication broadband solutions, Intel’s products and technologies will be important to our vision of billions of connected devices,” said Dr. Hermann Eul, president of Intel Mobile Communications. “Intel is making the necessary investments to further enhance its existing world-class wireless product portfolio and to offer the most reliable platforms to our customers that will work seamlessly across a range of global networks. The acquisition supports this strategy and we believe that SySDSoft’s proven and experienced engineering team, combined with Intel Mobile Communications’ existing wireless strength, positions us well for continued growth in LTE.”
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com.
About Intel Mobile Communications
Intel Mobile Communications develops and markets innovative semiconductor products and solutions for wireless communications leveraging its unique advantages in the areas of RF, Mixed Signal/power management, monolithic integration and comprehensive know-how in cellular software and systems. Intel Mobile Communications targets the fast growing market segments of smart phones, connected devices (e.g. tablets, USB dongles, mobile PCs, M2M), and ultra-low-cost/ entry phones. Its roadmap is focused to provide the most cost-effective 2G/3G single-chip platforms for ULC phones up to entry-level smart phones and to offer best-in-class 3G/4G slim modem and RF solutions for mid-to high-end smart phones and connected devices. Intel Mobile Communication has formerly been a division of Infineon Technologies AG, called Wireless Solutions (WLS). Early in 2011, Intel Corporation completed the acquisition of the WLS business of Infineon with more than 3,500 employees worldwide.