Intel, after a couple of months of negotiation, has agreed to buy Altera for $16.7 billion (£11 billion) in cash.
The acquisition comes just a few days after Avago announced its $37 billion acquisition of Broadcom, the largest deal ever seen by the tech sector. The timing is probably not coincidental: Intel and Altera had reportedly been in talks since March.
Much like the Avago-Broadcom deal, Intel-Altera is a consolidation move. Altera is the second largest maker of FPGAs and other programmable logic devices behind Xilinx. Intel makes a wide range of chips, but has only ever dabbled in FPGAs. Buying Altera will let Intel sell a wider variety of chips through its existing sales channels, while also potentially realising some savings through strategic job cuts.
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