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Intel's new acquisition

RECORDER REPORT

KARACHI: Intel Corporation on Friday announced that it has entered into a definitive agreement to acquire privately held Thinkit Technologies, Inc. According to release issued by Intel Pakistan Corporation, the agreement includes the acquisition of Software and Silicon Systems Pvt., Ltd, Thinkit's wholly owned subsidiary based in Bangalore, India.

The Thinkit adds to Intel's design capabilities of advanced communications silicon on a worldwide basis. The purchase also marks the 11th networking and communications related acquisition announced by Intel since January 1999.