Stay up to date on our entrepreneurs, events, research and more. Check out our May newsletter here.
Today, it was announced that SySDSoft, the Egyptian 4-G wireless software company run by Endeavor Entrepreneur Khaled Ismail, was largely acquired by Intel through its stand-alone subsidiary, Intel Mobile Communications. For further details, check out the Intel press release and an article on TechCrunch. Also, check out the March 21 article from All Things Digital, “An Exit in Egypt,” which discusses the deal and its larger resonance in Egypt post-Mubarak. Khaled was selected in 2007 as the first Endeavor Entrepreneur in the Middle East.
As part of the deal, Intel plans to hire approximately 100 employees from SySDSoft, which designs cutting-edge products for the wireless broadband market–including various technologies such as WiMAX, Wi-Fi, Bluetooth, Wireless USB, and LTE.
“The acquisition of engineering and design talent from an Egypt-based company in the field of cutting-edge wireless and communication technology is the first of its kind for Intel in the Middle East,” said Arvind Sodhani, president, Intel Capital and executive vice president, Intel, in the company’s press release.
© 2016 Endeavor Global, Inc.
All Rights Reserved
Endeavor Global, Inc.
900 Broadway, Suite 301
New York, NY 10003
1 (212) 352-3200
Site by #BRITEWEB