Intel Completes Acquisition of Altera for $16.7 Billion

Intel Corporation today announced that it has completed the acquisition of Altera Corporation, a leading provider of field-programmable gate array (FPGA) technology for $16.7 billion. The acquisition complements Intel’s leading-edge product portfolio and enables new classes of products in the high-growth data center and Internet of Things (IoT) market segments.

“Altera is now part of Intel, and together we will make the next generation of semiconductors not only better but able to do more,” said Brian Krzanich, Intel CEO. “We will apply Moore’s Law to grow today’s FPGA business, and we’ll invent new products that make amazing experiences of the future possible – experiences like autonomous driving and machine learning.”

Altera will operate as a new Intel business unit called the Programmable Solutions Group (PSG), led by Altera veteran Dan McNamara. Intel is committed to a smooth transition for Altera customers and will continue the support and future product development of Altera’s many products. In addition to strengthening the existing FPGA business, PSG will work closely with Intel’s Data Center Group and IoT Group to deliver the next generation of highly customized, integrated products and solutions.