Intel Corporation acquired Chips and Technologies today for $420 million, in a bid to move forward with it's "visual computing strategy," according to company spokesman Tom Waldrop. C&.nieT will be operated as a wholly owned subsidiary and will continue to develop products under its own name for the foreseeable future. Eventually, however, their products lines will be folded into Intel.

"By acquiring Chips and Technologies we bring within Intel the people and technology that can help us more rapidly push the visual computing technology into the mobile framework," Waldrop said