New voter surge in early voting could sway battleground states in 2024 US presidential election    Civil Defense urges caution amid forecast of heavy rain to hit most Saudi regions until Monday    What's in it for FinTech startups in events like Biban24    Al Nassr and Al Hilal share points in intense Riyadh Derby draw    ImpaQ: Riyadh to host first Impact Makers Forum in December    Saudi Arabia ranks 12th globally in international visitor spending in 2023    SFDA chief discusses investment opportunities in food and pharmaceutical sectors with Chinese companies    Riyadh's Sports Boulevard receives Platinum ActiveScore certifications    Saudi Arabia refutes claims of rising worker fatalities, highlighting low work-related death rates    US says around 8,000 troops from North Korea are stationed in Russia's Kursk region    Spain mourns as death toll passes 150 in catastrophic floods    Seven killed in Israel in deadliest Hezbollah rocket strikes in months    Cyclists on phones face jail under Japan's new traffic laws    Hidden sugars in Asia's baby food spark concerns    Saleh Al Shehri strike seals Al Ittihad's Sea Derby win over Al Ahli    HONOR unveils pre-order of the stunning HONOR MagicBook Art 14 Featuring an ultra-slim design, HONOR Eye Comfort Display and AI Cross-OS WorkStation    Derby Week makes its debut in the Roshn Saudi League    Al Nassr eliminated from King's Cup after a defeat to Al Taawoun    Teri Garr, Young Frankenstein and Tootsie star, dies at 79    Indonesia Days event celebrates cultural diversity at Al Suwaidi Park    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Intel buys Altera for $16.7bn
Published in The Saudi Gazette on 02 - 06 - 2015

SANTA CLARA, California — Microchip maker Intel is buying chip designer Altera for about $16.7 billion in cash. The deal comes after an earlier round of talks between the two companies ended in April. The transaction is the latest in ongoing consolidation in the industry that's aimed at boosting revenue and profit.
Intel was already partners with Altera, manufacturing some top-end chips designed by the much smaller company, while Altera has used some of Intel's technology in the design of its chips under a long-term agreement reached in 2013.
The acquisition would likely be the biggest in Intel Corp.'s 47-year history.
Intel, based in Santa Clara, California, is the world's largest maker of PC chips and sells most of the chips used in servers, a much more profitable product.
Altera is attractive because it makes chips used in phone networks and cars. Intel has been looking to get into those areas as demand for personal computer chips slips because more people are relying on smartphones and tablets to connect to the Internet.
Altera also sells chips known as field-programmable gate arrays that customers can later configure for specific processing or data-storage functions, including for use in cellular base stations and switching systems.
Altera Corp. stockholders will receive $54 per share, an 11 percent premium to the San Jose, California-based company's closing price of $48.85 on Friday.
Altera will become a unit of Intel. Its stock rose more than 4 percent in Monday premarket trading.
Both companies' boards approved the acquisition.
The deal, which still needs approval from Altera shareholders, is targeted to close in six to nine months. The deal is expected to add to Intel's adjusted earnings per share in the first year after closing.
Intel's shares rose slightly before the market opened. — AP


Clic here to read the story from its source.