Items tagged with (nasdaq:altr)

Intel announced a $16.7 billion purchase of Altera Corporation today, promising that it will empower Intel to provide faster systems at lower costs. The cash acquisition values Altera at $54 per share and has been approved by the boards of both Altera and Intel. “Intel’s growth strategy is to expand our core assets into profitable, complementary market segments,” Intel CEO Brian Krzanich said in a statement. “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.”Intel and Altera reportedly began talks in late March of this year, but attempts to strike a deal temporarily fell apart when Altera rejected... Read more...
Intel is reportedly attempting to negotiate a deal to acquire Altera, an American company that designs and manufacturers FPGAs, or field-programmable gate arrays. The figure that's out there is $10 billion, and if it happens, it would be Intel's largest acquisition ever. It would also help Intel expand its presence in other marketsAltera's chips are often found in cellphone towers, along with military and industrial applications. These are all areas where Intel could make a ton of money, which also buys the company insurance against a changing landscape that's see the personal computer market lose some of its luster over the past several years.Case in point, Intel this month reduced its first-quarter... Read more...