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ST-Ericsson Announces Asset Purchase Agreement with Intel
- Client News
- May 28, 2013
Paul, Weiss client ST-Ericsson, a joint venture of STMicroelectronics and Ericsson, announced the signing of a definitive agreement to sell the assets and intellectual property rights associated with its mobile connectivity Global Navigation Satellite System (GNSS) business to Intel. In addition to the assets and intellectual property rights associated with this business, a team of 130 industry veterans located in Daventry (U.K.), Bangalore (India) and Singapore are anticipated to join the buyer at the closing of the transaction. The closing of the transaction is subject to regulatory approvals and standard conditions and is expected to be completed in August 2013.
The Paul, Weiss team included, among others, corporate partner Marilyn Sobel and counsels Ji Lu and Didier Malaquin; intellectual property counsel Menachem Kaplan; employee benefits counsel Reuven Falik; tax partner Richard Bronstein; and bankruptcy counsel Diane Meyers.