Intel announced to buy Altera for 16.7 billion US dollars

Intel will pay 54 dollar a share in cash to Altera to complete the acquisition process.

Created On: Jun 2, 2015 13:00 ISTModified On: Jun 2, 2015 18:23 IST

Intel Corporation on 1 June 2015 announced that it will acquire Altera Corporation for 16.7 billion US dollars.

Intel, the world’s largest chipmaker, will pay 54 dollar a share in cash to Altera to complete the acquisition process.

Altera is an American based company and it manufactures Programmable Logic Devices (PLDs).

The Altera purchase will add to Intel’s non-GAAP earnings per share and free cash flow in the first year after it closes the deal, which is expected within six to nine months.

Altera chips are used in a variety of markets, ranging from communications to consumer electronics. While they’re sold in relatively small volumes, programmable logic usually requires the latest in production technology because it’s some of the largest chips in the industry.

The acquisition will couple Intel’s leading-edge products and manufacturing process with Altera’s leading field-programmable gate array (FPGA) technology.

The combination is expected to enable new classes of products that meet customer needs in the data center and Internet of Things (IoT) market segments.

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