Cortina is a privately owned company that designs and sells communication semiconductors to Telecom equipment manufacturers. They lack the capital assets to make such a purchase, and have obtained funding from outside sources.
My initial reaction is mild disappointment. I was hoping the divestiture of the Intel assets would trigger much needed consolidation in the Comm Semi industry (see Intel Price-Cutting).
I am hopeful that this is the first of several acquisitions to be made by a consortium of investors, led by Cortina.
At this time I do not know exactly what components were sold and what price was paid. It is also unclear where the optical module assets of Intel will land, though I expect either Finisar (FNSR) or Avago to purchase those.