Intel Corp (INTC)

[The_Trooper]

The news is up and it has nothing to do with Intel:

MediaTek, Inc. (TSE: 2454; hereinafter “MediaTek”) and NavInfo Co., Ltd. (SZ: 002405; hereinafter “NavInfo”) today independently approved the signing of a Strategic Cooperation Agreement and a Framework Agreement (hereinafter, the “Agreements”) by the Board of Directors of each company. Per the Agreements, NavInfo plans to wholly acquire AutoChips, Inc. (hereinafter “AutoChips”), a Chinese subsidiary of MediaTek, for a purchase price of US$600 million. Completion of the above is scheduled for 4Q16, subject to various relevant regulatory approvals. Concurrently, MediaTek plans to invest in or co-invest with NavInfo, an amount of no more than US$100 million, to cooperate strategically in the fields of Automotive ICs and the Internet of Vehicles (hereinafter “IoV”).