Intel has announced plans to acquire Lantiq, a German broadband and networking company, to reinforce its hold on the Internet of Things (IoT) market.
The acquisition, which has not yet been officially finalised, would see the company taken over by Intel, with the company having previously been proactive about working with IoT technology.
Kirk Skaugen, senior vice president and general manager of Intel's Client Computing Group, said: "By 2018, we expect more than 800 million broadband connected households worldwide.
"Intel has been a global leader in driving broadband into the home and to connected compute devices. The combination of our cable gateway business with Lantiq's technology and talent can allow global service providers to introduce new home computing experiences and enable consumers to take advantage of a more smart and connected home."
The move should see Intel become an even more prominent presence in the IoT market, with Lantiq bringing with it over 2,000 broadband communications patents in addition to other technologies.
"Intel and Lantiq share a common vision about the evolution of the connected home and the intelligent network," said Lantiq CEO, Dan Artusi. "Together we can drive the transformation of the broadband customer premises equipment (CPE) as it becomes a smart gateway that connected an increasingly diverse roster of devices and services in the home."
Intel recently revealed the release date for its Broadwell chip as the end of January.
