Intel agrees to buy Telmap

Chipmaker Intel has agreed to acquire mobile navigation software maker Telmap, the chief executive of the Israel-based company said yesterday. Details of the deal were not disclosed but Israeli media said Intel is paying about $300m (£192m) to $350m. Telmap chief Oren Nissim declined to comment on the price and said the deal was expected to close before the end of the year. Telmap will become a wholly-owned subsidiary of Intel, which has two plants and four development centres in Israel.