Verizon to Acquire Intel Media Assets; Terms Not Disclosed

Verizon Communications (NYSE, Nasdaq:

) and Intel

today announced an agreement for Verizon to purchase from Intel the assets of Intel Media, a business division dedicated to the development of Cloud TV products and services. The transaction will accelerate the availability of next-generation video services, both integrated with Verizon FiOS fiber-optic networks and delivered "over the top" to any device. Terms of the transaction were not disclosed.