Intel buys Level One for $2.2 billion

Chip monster Intel has snapped up Level One, in a share-for-share exchange worth an estimated $2.2 billion. Level One specialises in silicon connectivity for telco and networking apps. The deal will give Intel leverage in the Intranet and Internet equipment market. The company will become a wholly owned subsidiary of Intel but the transaction is subject to review by the US government. ® Intel Developer Forum coverage