Intel Buys Altera In Nearly $17B Deal
In a move to stay above a struggling PC market, Intel's acquisition helps expand its reach in the Internet of Things.By Matt Moreno | June 1, 2015
The world's largest chip-maker just made its largest acquisition ever. Intel is buying programmable chip-maker Altera Corporation in a $16.7 billion cash deal, with stockholders taking home $54 per share. (Video via Intel)
The merger comes amidst a lag in the personal-computer market, one that Intel's been able to stay above. Intel's first-quarter earnings report in April showed a 3 percent rise in income compared to the same quarter last year. And Intel likely wants to continue keeping its head above water.
That's where Altera should help out. A joint press release said Intel's products and manufacturing process will join with Altera's field-programmable gate array technology — a.k.a. customer-programable chips. This FPGA tech is an important gateway to the Internet of Things market.