Chipmaker Intel to buy Altera for US $ 16.7bn

2 June 2015 07:01 am - 0 - {{hitsCtrl.values.hits}}

A A A

AFP: Chipmaking giant Intel announced yesterday it will acquire the much-smaller Altera for US $ 16.7 billion, accelerating a wave of consolidation in the semiconductor industry.

Intel said the deal, the largest in its 47-year history, would boost its portfolio of chips for data centres and the ‘Internet of Things,’ an emerging area of transactions that do not require human-to-human or human-to-computer contacts.

The deal follows the May 28 announcement that Singapore-based Avago Technologies would buy rival Broadcom in a tech-sector record US $ 37 billion deal aimed at mobile chipmaking. Intel will pay US $ 54 per share in cash for Altera, which designs processors for phone networks, server systems, cars and other devices. In mid-morning trade, Altera shares rose 6.1 percent to US $ 51.85, while Dow member Intel fell 1.6 percent to US $ 33.90.

Altera shares were trading in the mid-US $ 30s in March prior to US media reports of a possible deal with Intel.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Chipmaker Intel to buy Altera for US $ 16.7bn

Comments - 0

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

Complaint lodged over Piumi Hansamali's possession of Gota’s Range Rover

Confusion remains if April 15 is a bank holiday

New Visa procedure implemented

SL on alert on possible genocide allegations by Canada

Former MP Palitha Thewarapperuma dies from electrocution

Belgian traveller scammed in Kalutara

MIRROR CRICKET

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

Chamodi, Dewmi spins Sri Lanka U19 Women to big win

TODAY'S HEADLINES

Wild elephants pull down 16 telephone poles

Middleman arrested for price gouging at Kalutara eatery

Bondholders’ agreement delay won’t hinder IMF third tranche payout: Dr. Coomaraswamy

Party leaders to shoot down MPs request for concessionary duty free vehicle permits

Hardik fined Rs 12 lakh for violating IPL code of conduct after win over Punjab Kings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings