Nvidia to wind down Icera modem operations

Reuters News
Posted: May 05, 2015 4:38 PM

(Reuters) - Nvidia Corp <NVDA.O> said it would wind down its Icera modem operations, and was open to a sale of the technology or operations.

The company said it expects to wind down the operations in the second quarter of fiscal 2016.

Nvidia said it expects to partner with third-party modem suppliers, and will no longer develop its own.

The company completed the acquisition of Icera Inc for $352.2 million in June 2011.

(Reporting by Devika Krishna Kumar in Bengaluru; Editing by Sriraj Kalluvila)