Intel completes acquisition of Altera Corp

Merger cements Intel’s Programmable Solutions Group

Tags: Intel CorporationMergers and acquisitions
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Intel completes acquisition of Altera Corp Krzanich says with Altera on board, Intel will make the next generation of semiconductors not only better but able to do more.
By  Manda Banda Published  January 13, 2016

Intel Corporation has announced that it has completed the acquisition of Altera Corporation, a provider of field-programmable gate array (FPGA) technology.

The acquisition complements Intel's leading-edge product portfolio and enables new classes of products in the high-growth data centre 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, the company said.

In addition, Intel said it is committed to a smooth transition for Altera customers and will continue the support and future product development of Altera's many products, including FPGA, ARM-based SoC and power products.

According to Intel, it will strengthen the existing FPGA business by ensuring that PSG will work closely with Intel's Data Centre Group and IoT Group to deliver the next generation of highly customised, integrated products and solutions.

"As part of Intel, we will create market-leading programmable logic devices that deliver a wider range of capabilities than customers experience today," said McNamara, corporate vice president and general manager of the Programmable Solutions Group at Intel. "Combining Altera's industry-leading FPGA technology and customer support with Intel's world-class semiconductor manufacturing capabilities will enable customers to create the next generation of electronic systems with unmatched performance and power efficiency."

Intel expects the acquisition to be accretive to non-GAAP EPS and free cash flow in the first full year after close, consistent with prior guidance. Intel expects the acquisition to be dilutive to GAAP EPS in the first full year after close primarily due to acquisition-related.

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