An announcement from Apple on Thursday said the deal was expected to be concluded in the last quarter of the year.
Reports of the impending deal broke on Monday. Earlier this year, Intel said it was shutting down its 5G modem business after Apple and Qualcomm reached an out-of-court settlement to end all pending litigation between them, and also signed a multi-year deal for supply.
After the transaction is complete, Apple will own about 17,000 wireless technology patents, including its own stash, ranging from protocols for cellular standards to modem architecture and modem operation.
Intel will still be able to develop modems for non-smartphone applications such as PCs, Internet-of-things devices and autonomous vehicles.
“This agreement enables us to focus on developing technology for the 5G network while retaining critical intellectual property and modem technology that our team has created,” said Intel chief executive Bob Swan.
“We have long respected Apple and we’re confident they provide the right environment for this talented team and these important assets moving forward. We’re looking forward to putting our full effort into 5G where it most closely aligns with the needs of our global customer base, including network operators, telecommunications equipment manufacturers and cloud service providers.”
“We’ve worked with Intel for many years and know this team shares Apple’s passion for designing technologies that deliver the world’s best experiences for our users,” said Johny Srouji, Apple’s senior vice-president of Hardware Technologies.
“Apple is excited to have so many excellent engineers join our growing cellular technologies group, and know they’ll thrive in Apple’s creative and dynamic environment. They, together with our significant acquisition of innovative IP, will help expedite our development on future products and allow Apple to further differentiate moving forward.”