Intel will sell the unit, which produces the LANDesk series of management applications, to a new company, LANDesk Acquisition, formed recently by venture capital firms Vector Capital and vSpring Capital. The new company will market the products to medium-sized and large businesses.

The move comes as Intel renews its focus on processors for devices ranging from personal computers to networking equipment. The chipmaker will retain a small stake in the new company.

The deal "allows us to continue to narrow the focus on what we do, which is silicon," said Intel spokesman Robert Manetta.

As part of the shift in priorities, Intel has also discontinued its AnyPoint home networking product line and shut down its Connected Products Division, which manufactured consumer electronics devices such as digital cameras and digital audio players.

LANDesk Acquisition will take on LANDesk products including a management suite, client manager, server manager and asset service. It will license other intellectual property from Intel.

The new company will establish its headquarters near Salt Lake City. It is expected to offer jobs to all 150 employees who work in the Software Products and Services division.

The sale is expected to close by the end of this month. Financial terms were not disclosed.