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Intel Bolsters IoT Prowess With Altera

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Intel finalises a much rumoured acquisition as it swallows Altera, a smaller custom-design semiconductor manufacturer, in a deal worth $16.7 billion (or $57 per share) in cash.

Intel HQAltera makes field programmable gate arrays (FPGAs) complete with programmability, security and high-performance features-- meaning it complements Intel's ambitions for the Internet of Thing (IoT).

"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," Intel CEO Brian Krzanich says. "Whether to enable new growth in the network, large cloud data centers or IoT 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."

The two companies already have a foundry partnership, and Altera has been using Intel chip design technology since 2013. Once the acquisition is complete Altera will become an Intel business unit, with Chipzilla helping with the development of ARM-based and power management products.

Intel adds it will start selling Altera FPGA products as part of the Xeon data server chip portfolio.

The Altera buy is just one of a recent string of acquisitions and consolidations within the semiconductor industry-- May 2015 saw Avago buy rival Broadcom, as well as Dutch chip maker NXP Semiconductors acquire US rival Freescale Semiconductor. Meanwhile the WSJ says ARM is planning to buy Israel-based mobile security vendor Sansa.

Go Intel Acquisition of Altera