Intel Buying Altera for $16.7B U.S.

Intel logo

CBJ – Intel is purchasing Altera for $16.7 billion as the world’s biggest chipmaker attempts to find new opportunities in order to make up for declining demand from the PC industry by expanding its line-up of higher-margin chips used in data centers.

By combining with Altera, Intel will be able to bundle its processing chips with the smaller company’s programmable chips, which are used, among other things, to speed up Web-searches.

Intel said it would offer $54 per share in cash.

Altera rejected an earlier unsolicited offer of $54 per share from Intel in April.

@CanBizJournal

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