Intel on Monday announced that it will acquire Altera, which makes field-programmable gate array technology, in an all-cash transaction valued at approximately $16.7 billion. Intel will pay $54 a share for Altera. The deal paves the way for Intel to develop new classes of products in the data center and Internet of Things market segments. Altera last year posted revenue of $1.9 billion, generating a $700 million cash flow. Altera’s share price jumped nearly 6 percent to close at $51.68 on Monday.
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Intel Buys Altera to Fulfill Moore's Law Promise
Posted by: Peter Suciu June 1, 2015 01:21 PMIntel on Monday announced that it will acquire Altera, which makes field-programmable gate array technology, in an all-cash transaction valued at approximately $16.7 billion. Intel will pay $54 a share for Altera. The deal paves the way for Intel to develop new classes of products in the data center and Internet of Things market segments. Altera last year posted revenue of $1.9 billion, generating a $700 million cash flow. Altera’s share price jumped nearly 6 percent to close at $51.68 on Monday.