The world’s largest chipmaker Intel has agreed to acquire programmable chip maker Altera Corporation for approximately $16.7 billion.
“Intel’s growth strategy is to expand our core assets into profitable, complementary market segments,” said Brian Krzanich, CEO of Intel.
“Given our close partnership, we’ve seen firsthand the many benefits of our relationship with Intel—the world’s largest semiconductor company and a proven technology leader, and look forward to the many opportunities we will have together,” said John Daane, President, CEO and Chairman of Altera.
As part of the all-cash deal, Intel will pay $54 a share for Altera.
Intel Corporation is an American multinational technology company headquartered in Santa Clara, California.
Altera Corporation is an American manufacturer of Programmable Logic Devices (PLDs), reconfigurable complex digital circuits.The company released its first PLD in 1984.