Intel Corp said it expects to take a charge of between $110m and $330m for in-process research and development in the third quarter, stemming from its acquisition of Level One Communications Inc. In a filing with the Securities and Exchange Commission, Intel said it was currently analyzing the numbers in an attempt to determine the exact amount of the charge.
The filing also said that the amount of goodwill and intangible assets to be amortized in connection with the deal is expected to be between $1.8bn and $2bn over an estimated five-year time frame. The deal, valued at $2.2bn when announced in March, had first been expected to close in the second quarter but was delayed by regulatory scrutiny. It is now expected to close some time during the third quarter.
