Intel to Sell Most of Software Division

Intel Corp. said two investment firms agreed to buy most of a division that makes software to manage personal computers, as the world’s biggest semiconductor maker focuses on chips.

Vector Capital and vSpring Capital agreed to buy some assets of Intel’s software products and services division for an undisclosed amount of cash and stock in the independent company formed from the business. The chip maker will keep a minority stake.

Intel has been closing divisions such as those that made consumer products and managed Internet sites for other companies, as it puts more emphasis on chip businesses.

Shares of Intel rose 25 cents to $16.11 on Nasdaq.