Intel unveils plan to spin off NEX unit, CRN reports

Intel (INTC) unveiled its plan to spin off its Network and Edge business in a memo address to customers and said it is eyeing outside investment for the unit, CRN’s Dylan Martin reports. The memo was penned by Sachin Katti, who has led the business, shortened as NEX, since early 2023, the author notes. “We plan to establish key elements of our Networking and Communications business as a stand-alone company and we have begun the process of identifying strategic investors,” an Intel spokesperson told CRN.