Intel to Acquire Altera Corporation

Intel has entered a definitive agreement to acquire Altera Corporation. The acquisition, according to the company, would couple Intel’s products and manufacturing processes with Altera’s field-programmable gate array (FPGA) technology.

Intel has stated that it will buy Altera for a total of $16.7 billion, a company press release states.

The combination of Intel and Altera technology is expected to enable a new class of products for data center and Internet of Things (IoT) applications. Intel also plans to enhance Altera’s products with design and manufacturing improvements.

“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. “We believe that as part of Intel we will be able to develop innovative FPGAs and system-on-chips for our customers in all market segments. Together, we expect to drive meaningful value for our customers, partners and employees around the world. This is an exciting transaction that provides immediate and significant value to our stockholders. We look forward to working closely with the Intel team to ensure a smooth transition and complete the transaction as quickly as possible.”

For more information, visit Intel and Altera.

Sources: Press materials received from the company and additional information gleaned from the company’s website.