Intel Capital, which is the global investment arm of computer chip maker Intel Corp., said Tuesday that it agreed to pay $20 million for an unspecified stake in social computing and business intelligence company Telligent Systems.
Intel spokeswoman Amy Kircos said the stake represents a "meaningful position" in Telligent but declined to be more specific.
Dallas-based Telligent will use the funding to expand its sales teams and to support growth in various markets. The company will also add to its marketing and advertising and product development plans.
An initial closing was completed between Telligent and Intel Capital, and Intel Capital is expected to acquire the remainder of its stake within 12 months.
Intel shares rose 23 cents in after-hours trading after finishing regular trading up 13 cents at $18.63.
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