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Intel plans to buy Altera

Posted: 30 Mar 2015 ?? ?Print Version ?Bookmark and Share

Keywords:Internet-connected devices? acquisition? buyout? IoT?

Semiconductor giant Intel Corp. is already in talks to acquire rival Altera Corp., the Wall Street Journal reported Friday. The move is said to bolster Intel's product line with a focus on Internet-connected devices.

Should the plan push through, the deal would be Intel's biggest buyout ever, according to the WSJ. Altera had a market capitalisation worth $10.4 billion before Friday.

As demand for personal computers declines anew, Intel must find other means to expand its business, and buying Alteraknown for its processors targeting cars, phone networks and other deviceswould aid in diversifying the U.S. tech giant's product offerings.

Intel has been the biggest chipmaker for personal computers, but with the growing market for Internet-connected devices, the semiconductor giant branches out to mobile devices and connected gadgets. One example is its heart monitor, which is integrated in audio headphones.

Intel, the longtime leader in semiconductors for personal computers, has been shifting its focus to mobile devices and connected objects, including a recently announced heart monitor which is incorporated in audio headphones.

San Jose, Calif.-based Altera, located not too far from Santa Clara-based Intel, employs some 3,000 people across the globe and had $1.9 billion revenues in the past year. Its market valuation reached $13.4 billion after the news came out, with shares growing 28 per cent to $44.39.

Intel, on the other hand, has a market value of $151.6 billion, with its shares gaining 6.4 per cent to $32.

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