Intel To Buy Infineon Wireless Unit For $1.4B

Intel

, the world's largest semiconductor maker, will pay $1.4 billion to acquire the wirless business of German chipmaker Infineon. The deal will give Intel a bigger footprint in the rapidly growing smartphone market. The transaction is expected to close in the first quarter of 2011. The announcement comes barely more than a week after Intel said it would acquire McAfee

for $7.7 billion.