Intel, which operates a huge factory in Kiryat Gat, north of Be’er Sheva, has bought out a U.S.-based Texas Instruments cable modem products line and is offering workers work in Israel.
The purchase increases Intel's focus on the cable industry and related consumer electronics market segments, where the company's expertise in building advanced system-on-chip products (SoCs) will be applied.
All employees of Texas Instruments' cable modem team received offers to join Intel at sites in their home countries, primarily Israel, and will become part of Intel's Digital Home Group.
"Adding the talents of the Texas Instruments' cable team to Intel's efforts to bring its advanced technology to consumer electronics makes for a compelling combination," said Bob Ferreira, general manager, Cable Segment, Intel's Digital Home Group.
"Intel is focused on delivering SoCs that provide the foundation for consumer electronics devices such as set top boxes, digital TVs, Blu-ray* disc players, companion boxes and related devices,” he added. This acquisition specifically strengthens Intel's product offerings for the continuum of cable gateway products and reinforces Intel's continued commitment to the cable industry."
Israel has become a safe haven for thousands of Jews in the United States and elsewhere who have been left underemployed or unemployed following the global financial crisis two years ago that triggered a worldwide recession.
The country’s Gross Domestic Product (GDP) grew by a surprisingly high annualized rate of 4.7 percent in the second quarter, far higher than the previously predicted 2.9 percent growth rate. The United States is struggling with a lower growth rate and faces the possibility of a “double-dip” recession as it struggles with a choking federal debt, continuing high unemployment and low consumer demand.
The job market in Israel also is expected to be on the prowl for skilled laborers and engineers as the country develops the infrastructure to bring online newly discovered vast amounts of natural gas off the Mediterranean Coast.
New immigrants are able to look for jobs with the Nefesh B’Nefesh-Jewish Agency program to bring Jews to Israel.