Intel Corporation (NASDAQ:INTC) Plans to Invest $152 Million

Los Angelas, CA -- (SBWIRE) -- 03/01/2013 -- Intel Corporation (NASDAQ:INTC) is looking to make an investment of as much as $152 million in Brazil in the coming five years in research and development, the company recently said in a statement on Wednesday.

The chip maker giant will join hands with the Brazilian government for its research and development project. For the government, increasing the country’s software output is a top priority.

Fernando Martins, the president of Intel Brazil, said that the direct investment will go toward raising resources and head count internally as well as the company will pay for research at 7 Brazilian universities, including the University of Brasilia, University of Sao Paulo and Unicamp.

During 2012, President Dilma Roussef stated that Brazilian government will spend $254 million to encourage software development. It is expected that this figure will increase and it does not include the country’s national development bank’s proposal.

Brazil is the third biggest market for Intel (INTC), Martin said. In addition to Intel capital, the company’s venture capital arm has been active in the country for a long time, making its first investment way back in 1999. Since then, the company has made an investment of about $100 million in more than 25 firms, said Dave Thomas, head of Intel Capital.

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