Intel Sells Off Cloud TV Unit To Verizon

Santa Clara-based Intel, and communications provider Verizon Communications announced this morning that Verizon has agreed to purchase the assets of Intel Media, Intel's cloud television products and services unit. Financial details of the sale were not announced. Intel's Cloud TV unit was behind the OnCue Clout TV platform. Verizon said it will make employment offers to "substantially all" of the 350 people employed by Intel in its unit, which is based in Santa Clara.