- Intel (NASDAQ:INTC) is buying startup Barefoot Networks for an undisclosed amount in a bid to scale up the smaller company’s networking-chip technology and compete with Broadcom (NASDAQ:AVGO).
- Barefoot's specialty is silicon that is programmable for public cloud deployments and its ethernet chips are hailed because of their flexibility.
- Investors in Barefoot before Intel's purchase included tech giants Alphabetl, Alibaba, Tencent, Goldman Sachs and venture-capital firms.