Apple likely to buy Intel’s cellular modem unit

Apple Inc is negotiating to buy Intel Corp’s struggling cellular modem unit, said a person familiar with the matter.

The deal would give Apple key engineering talent and patents that would help it develop new devices to connect to the mobile internet. The Intel assets could be valued at about $1 billion in a transaction, said the source. An agreement could be reached as soon as this week, though its possible talks could break down without a deal, the person said.

Representatives for Apple and Intel declined to comment. The negotiations were reported earlier by the Wall Street Journal.