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Intel takes $30.5 million chunk of PictureTel

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Intel said it is to invest $30.5 million in PictureTel in a push designed to boost its video conferencing technology. The companies said they will jointly develop products to leverage emerging markets including broadband, cable modems, XDSL and the next-generation Internet. Intel will license PictureTel to distribute its ProSare Video System 500 and its TeamStation system. The results of the collaboration are expected to arrive in the year 2000. Products will be marketed under the PictureTel brand name. ®

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