Intel has acquired Axxia Networking Business for $650 million

Intel has scooped up the LSI Axxia networking chip business from Avago Technologies for $650 million in cash. Intel announced the acquisition on Wednesday, which sees it acquire Axxia Networking Business’ ARM and PowerPC-based processors destined for enterprise and wireless network hardware. Intel is still highly dependent on the uncertain PC market and has struggled to gain traction in mobile, while its other core units serving the enterprise, such as the datacentre and Internet of Things groups, have fared markedly better.