Arab Today, arab today chipmaker intel to buy altera for 167bn
Last Updated : GMT 08:12:03
Arab Today, arab today
Arab Today, arab today

Chipmaker Intel to buy Altera for $16.7bn

Arab Today, arab today

Arab Today, arab today Chipmaker Intel to buy Altera for $16.7bn

Chipmaker Intel will acquire
New York - AFP

Chipmaking giant Intel announced Monday it will acquire the much-smaller Altera for $16.7 billion, accelerating a wave of consolidation in the semiconductor industry.

Intel said the deal, the largest in its 47-year history, would boost its portfolio of chips for data centers and the 'Internet of Things,' an emerging area of transactions that do not require human-to-human or human-to-computer contacts.

The deal follows the May 28 announcement that Singapore-based Avago Technologies would buy rival Broadcom in a tech-sector record $37 billion deal aimed at mobile chipmaking.

Intel will pay $54 per share in cash for Altera, which designs processors for phone networks, server systems, cars and other devices.

In mid-morning trade, Altera shares rose 6.1 percent to $51.85, while Dow member Intel fell 1.6 percent to $33.90.

Altera shares were trading in the mid-$30s in March prior to US media reports of a possible deal with Intel.

The longtime leader in semiconductors for personal computers, Intel has been shifting its focus to mobile devices and connected objects. It had 2014 sales of $55.9 billion.

Intel alluded to "Moore's Law", the maxim of company cofounder Gordon Moore, which holds that the number of transistors on a chip will approximately double every 24 months.

"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," said Intel chief executive Brian Krazanich.

"Whether to enable new growth in the network, large cloud data centers or Internet of Things segments, our customers expect better performance at lower costs. This is the promise of Moore's Law and it's the innovation enabled by Intel and Altera joining forces."

Although competitors, the two companies in February 2013 announced an agreement in which Altera would employ Intel transistor technology in its next-generation products.

Intel is based Santa Clara, California, while Altera is in the neighboring San Jose.

Founded in 1983, Altera employs more than 3,000 people in more than 20 countries and had 2014 sales of $1.9 billion.

Altera will become a business unit under Intel, which had 106,700 employees at the end of 2014.

Intel and Altera began discussing a combination at least as early as March, but the talks were halted soon after that because of a disagreement over the price, according to US media reports.

The companies expect to complete the transaction in six to nine months. Intel will finance the purchase with a combination of cash and debt.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chipmaker intel to buy altera for 167bn Arab Today, arab today chipmaker intel to buy altera for 167bn

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal

GMT 15:47 2017 Wednesday ,22 February

Airbus faces challenges as it enters new era

GMT 11:47 2017 Wednesday ,22 February

Toshiba skyrockets over 22% on chip unit sale hopes

GMT 11:31 2017 Wednesday ,22 February

Bayer says Monsanto deal on track, eyes record 2017

GMT 10:49 2017 Wednesday ,22 February

Airbus says profits hit by military plane woes

GMT 06:43 2017 Wednesday ,22 February

LuLu festival offers a taste of Egypt
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday