Amwal Al Ghad English - 2015-03-28 08:02:11
Intel Corp (INTC.O) is in talks to buy fellow chipmaker Altera Corp (ALTR.O) in a deal likely to top $10 billion, according to a source familiar with the matter, making it Intel's biggest purchase ever and the latest merger in the quickly consolidating semiconductor sector.
The acquisition of Altera, which makes programmable chips widely used in cellphone towers, the military and other industrial applications, would underscore Intel Chief Executive Officer Brian Krzanich's determination to expand into new markets as the personal computer industry loses steam.
Though dominant in the market for chips used in PCs, the world's biggest chipmaker has been slower than its rivals to adjust in recent years to the growing popularity of smartphones.
Earlier this month, Intel slashed nearly $1 billion from its first-quarter revenue forecast to $12.8 billion, plus or minus $300 million, as small businesses put off upgrading their personal computers. More»