SANTA CLARA, Calif., Aug. 30 (UPI) -- U.S. microchip giant Intel said Monday it would purchase European chip maker Infineon's wireless product division for $1.4 billion.

In a brief statement, Intel said it would pay cash for Infineon's Wireless Solutions Business in a deal expected to close in the first quarter of 2011.

Intel said the deal -- announced in the same month it said it would purchase software security firm McAfee -- would help it expand its automotive, security and industry-oriented businesses.

It will also expand offerings of WiFi and 4G WiMax technology, the firm said.