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Intel agrees to buy Altera in $16.7bn deal

  • Chipmaking giant Intel is buying Altera, a rival firm, in a $16.7-billion deal.

    Intel announced that it will pay $54 per share for the company, 10.5% more than Altera shares’ closing level on Friday.

    The coming together of the two firms will help create “new classes” of products, Intel said.

    The agreement comes days after Avago agreed to buy Broadcom for $37 billion, which was the biggest deal in the history of the semiconductor manufacturing sector.

    Tagged as: Chipmaking giant, Intel, Altera, Avago, Broadcom, semiconductor manufacturing, business news