Intel acquires Israeli navigation company

Shells out somewhat around $300 million to acquire Telmap.

Intel - logo

It has gone largely unnoticed, but Intel (NASDAQ:INTC) last week started the acquisition of Telmap for an undisclosed sum, which we believe will be somewhere between $300 and $350 million.

Intel has confirmed the acquisition, but has declined to confirm the price and the expected closing date of the acquisition.

“This move is a step towards expanding our mobile software services capabilities as Intel continues to grow in the area of software and services. We are all very excited to have such knowledgeable and respected experts join the company,” said the posting in a blog on Intel’s  AppUp Developer web site.

“Telmap will allow us to provide AppUp developers with great, differentiated location capabilities in the form of a standard set of location-based APIs and software that developers can easily integrate into their AppUp apps,” said the posting.

A Reuter’s news flash on Sunday quoted the Telmap CEO as saying that he expected the deal to close before the end of the year.  The acquisition shows that Intel is actively pursuing the creation of a complete eco-system for its processors.

Let’s just hope that Intel will not ruin this company as has happened to other software acquisitions with the notable exceptions of McAfee and WindRiver.S|A

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