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said Monday it is acquiring


, a privately held semiconductor company, for about $550 million in cash.

Shares of Intel recently climbed 31 cents to $30.25 in pre-open

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activity. The shares finished at $29.94 in Friday's regular trading on



The leading chipmaker, based in Santa Clara., Calif., did not provide other financial details of the acquisition, which remains subject to regulatory approval and other closing conditions.

The Fremont, Calif.-based VxTel makes digital signal processors, or DSPs, that enable communication companies to send voice and data over packet-based networks, such as the Internet. The company's high-performance DSP also enables more than 2000 simultaneous voice connections on a single card, and is more efficient and less costly, Intel said.