Intel To Buy Altera in All-Cash Deal Valued at $16.7 Billion

Intel said it's buying semiconductor company Altera in an all-cash deal valued at roughly $16.7 billion. The acquisition will couple Intel’s Xeon processors and manufacturing process with Altera’s field-programmable gate array technology to create new classes of products for the IoT and data center market segments, said the companies. The buy will enable next-generation products to do more at a lower cost, said Intel CEO Brian Krzanich. Altera will become an Intel business unit, and Intel plans to continue support and development for Altera’s ARM-based and power management product lines, the companies said.