Monday, June 1, 2015

Intel Buys Altera In $16.7 Billion Deal

Santa Clara-based Intel and San Jose-based Altera announced this morning that Intel is in an agreement to acquire Altera in a $16.7 billion deal. Intel said it would pay $54.00 per share in cash for publicly traded Altera, which it says is aimed at creating new products in the data center and Internet-of-Things market. Altera is a developer of field programle, gate array (FPGA) technology, which allows for the quicker development of semiconductor designs than typical, semiconductor processes. Intel said that Altera will become a new business unit for the company, and that it will continue to support and develop Altera's ARM-based and power management product lines. Intel is being advised by J.P. Morgan Securities LLC and Rothschild Inc., along with Gibson, Dunn & Crutcher LLP and Weil, Gotshal & Manges LLP in the deal; Altera is being advised by Goldman Sachs & Co., and Wilson Sonsini.