Intel agrees to buy Altera for $16.7 billion
A few days after a bigger fish in Broadcom went to Avago (see "Avago to buy Broadcom"), Intel Corp. (NASDAQ: INTC) announced it will buy FPGA Altera Corp. (NASDAQ: ALTR) for $54 per share. The all-cash deal values the number two FPGA vendor (behind Xilinx) at approximately $16.7 billion. Intel expects to close the deal in six to nine months.