Intel to invest $600M in deal
San Francisco – Intel Corp., the world’s biggest chip maker, said Wednesday its venture capital arm would invest $600 million in a wireless Internet services company as part of a $900 million deal that also includes Motorola.
Intel, which is trying to drive the adoption of a wireless technology known as WiMAX, said it would finance Clearwire Corp., which offers wireless Internet services in 200 cities nationwide. The investment represents the biggest for Intel Capital, which funds fledgling businesses that have the potential to accelerate demand for the personal-computer chips it sells.
Like its wireless cousin Wi-Fi, WiMAX delivers high-speed connections without requiring a computer to be tethered to a cable. But WiMAX has a significantly longer range that can stretch for miles rather than the 300 or so feet allowed by Wi-Fi.
Apple sued over stock options
Cupertino – Apple Computer Inc. said Wednesday two lawsuits have been filed against its current and former officers and directors relating to stock options grants.
The derivative lawsuits were filed in the U.S. District Court for the Northern District of California and Santa Clara County Superior Court.
Derivative lawsuits are filed by shareholders claiming to act on behalf of the company.
Last week, Apple said it found irregularities in the way it issued stock option grants, and was conducting an independent investigation.
The company said it is evaluating its response.
The maker of Macs and iPod music players is one of a growing number of companies under internal or Securities and Exchange Commission investigations for possibly backdating stock options to time them at low prices, thus boosting the payout.
