SANTA CLARA, Calif. and SACRAMENTO, Calif. March 4, 1999 – Intel Corporation and Level One Communications today announced that the boards of directors of both companies have approved a definitive stock-for-stock merger agreement valued at approximately $2.2 billion under which Intel would acquire Level One. The acquisition is aimed at bringing customers advanced networking capabilities by offering increased bandwidth and functionality through silicon integration. The Sacramento-based Level One provides silicon connectivity solutions for high-speed telecom and networking applications and is expected to establish Intel as a leading component supplier for the rapidly growing Internet and Intranet equipment market segments.
Intel (NASDAQ: INTC), a leader in the semiconductor industry, is shaping the data-centric future with computing and communications technology that is the foundation of the world’s innovations. The company’s engineering expertise is helping address the world’s greatest challenges as well as helping secure, power and connect billions of devices and the infrastructure of the smart, connected world – from the cloud to the network to the edge and everything in between. Find more information about Intel at newsroom.intel.com and intel.com.
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