Courtesy of Benzinga.
Verizon Communications (NYSE, Nasdaq: VZ) and Intel (Nasdaq: INTC) 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.
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