Cloud Computing: Intel to buy Altera for $16.7B as chipmakers consolidate
June 1, 2015
Grazed from CNet. Author: Ben Fox Rubin.
Intel has agreed to buy fellow chipmaker Altera for about $16.7 billion — Intel’s largest acquisition ever — a move that could provide a boost in its data-server and Internet of Things businesses. Intel said Monday that it will pay $54 in cash per Altera share and that it expects to close the deal in six to nine months.
Altera’s stock has surged more than 40 percent since late March, when news of the companies’ negotiations first surfaced. Reports that talks fell apart came out about a month ago, though the New York Post on Thursday said a revived deal would be announced as soon as this week. Altera shares were up an additional 6 percent Monday, while Intel’s share fell 1.3 percent…
"By bringing together our leading processors with Altera’s hardware … we can make the next generation of semiconductors not just better, but truly able to do more," Intel CEO Brian Krzanich said on a call with analysts…
Read more from the source @ http://www.cnet.com/au/news/intel-to-buy-altera-for-16-7b/