Intel to buy Infineon wireless unit for $1.4bn
US chipmaker Intel has agreed to buy the wireless unit of German counterpart Infineon for $1.4bn (£905m) in cash.
The deal was widely anticipated; however, Infineon had been expected to obtain a higher price for the business, which makes chips for Apple's iPhones.
Infineon's share price fell 3.7% on the news, making it the day's worst performer in Germany's Dax index.
The news follows Intel's announcement on 19 August that it would buy security software company McAfee for $7.68bn.