According to a report in The Wall Street Journal, Taiwan's MediaTek is buying Analog Devices' cellular chip assets for $350 million. The report pegs the deal as a big win for China's 3G market. The soon-to-be acquired assets include GSM, WCDMA and TD-SCDMA technologies. MediaTek will acquire 400 product development and support staff as part of the deal. Analog Devices' clients include Sharp, Samsung and Lenovo.

For more on the deal:
- read this press release