Apple announced on Thursday that it has signed an agreement to acquire the majority of Intel’s smartphone modem business. The deal is worth $1 billion and is expected to close in the fourth quarter of this year. Included in the buyout are 2,200 Intel employees joining Apple, patents and other IP, equipment and leases.
Apple has acquired Laserlike, a small machine learning startup based in Silicon Valley. The Information reports that the buyout happened late last year, and the team has joined Apple’s new artificial intelligence group.