Intel buys software business from Canada's Pivot Technology in 5G push

REUTERS: Intel Corp has agreed to purchase a software business from Toronto-based Pivot Technology Solutions Inc for US$27 million, the U.S. chipmaker said on Tuesday.

According to Pivot's securities filings, Smart Edge did not generate significant revenue in the first six months of 2019, but made a loss of about US$1 million before depreciation and amortization. Pivot, which has a market value of about US$43 million, was issued a U.S. patent on Smart Edge's technology in July.

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