US EditionIntel to Separate Networking Unit as New CEO Tan Overhauls Business
BENGALURU, JUL 25 – Intel seeks outside capital for its spun-off Network and Edge group, which generated $5.8 billion in 2024, aiming to streamline operations under new CEO Tan Lip-Bu.
- On Friday, July 25, Intel revealed plans to spin off its NEX unit, which focuses on networking and communications, into an independent company backed by external investors.
- The move follows May reports that Intel considered divesting NEX amid ongoing restructuring and a recent surprise second-quarter adjusted loss.
- NEX, Intel’s division that produces semiconductors for telecommunications systems, reported $5.8 billion in revenue for 2024, representing roughly 11% of Intel’s overall sales, and the planned spin-off is intended to boost innovation and accelerate growth.
- Senior vice president Sachin Katti stated that Intel plans to maintain a leading investment role while seeking additional strategic partners to help advance NEX's product development and accelerate innovation.
- Intel CEO Lip-Bu Tan aims to strengthen the company’s financial health by divesting peripheral businesses, cutting costs, and limiting large-scale investments.
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Intel to Separate Networking Unit as New CEO Tan Overhauls Business
July 25 (Reuters) – Intel INTC.Ois planning to separate its networking and communications unit into a stand-alone company and has begun the process of identifying investors, the chipmaker said on Friday, as new CEO Lip-Bu Tan looks to streamline its operations.
Intel Divests Again, This Time Spinning Off Its $5.8B Telecom Arm
Following a broader streamlining effort, Intel’s telecom-focused unit becomes a standalone company with backing from external investors Intel… The post Intel Divests Again, This Time Spinning Off Its $5.8B Telecom Arm appeared first on IMP.NEWS.
Intel to spin off NEX networking business into independent company - SiliconANGLE
Intel Corp. plans to spin off its NEX networking business into an independent company with help from external investors. CRM reported today that Sachin Katti, the unit’s senior vice president and general manager, announced the move to employees on Thursday. Intel confirmed the plan in a statement. The planned spinoff is part of a broader […] The post Intel to spin off NEX networking business into independent company appeared first on SiliconANGL…
Plan to revitalize the chip manufacturer focuses on eliminating non-essential assets and reducing costs by reducing significant investments and cutting jobs
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