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Intel to Acquire Altera for $16.7 Billion

Category: General News
Posted: 04:27PM

Intel and Altera have been dancing around a deal for several months, and today the two companies finally settled on a price. Intel will pay $54 per share for Altera in an all cash deal valued at $16.7 billion. Altera has a large presence in the FPGA and ASIC markets and with the purchase Intel gains access to valuable data center and Internet of Things business opportunities. Intel CEO Brian Krzanich described the acquisition stating, "With this acquisition, we will harness the power of Moore's Law to make the next generation of solutions not just better, but able to do more. Whether to enable new growth in the network, large cloud data centers or IoT segments, our customers expect better performance at lower costs." FPGAs can be developed in far less time, days or weeks, compared to the processors developed by Intel which can take up to three years from start to finish. FPGAs can be re-programmed at any time making it easy to update with new firmware, opening up the potential for new avenues of business for Intel.

Source: USA Today

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