Intel's acquisition of FPGA-maker Altera completed

SANTA CLARA, California. Intel Corp. officials announced today that the company completed its acquisition of FPGA-maker Altera Corp., which will now operate as an Intel business unit dubbed the Programmable Solutions Group (PSG). Altera's FPGAs are used by military systems designers in electronic warfare, radar, and other signal-processing intensive applications.

PSG will be led by Altera's Dan McNamara as corporate vice president and general manager. Intel officials said in a release that the company will continue the support and future product development of Altera’s product lines, including FPGA, ARM-based system on chip (SoC) and power products. In addition to its FPGA business, PSG will work with Intel’s Data Center Group and IoT Group.

“As part of Intel, we will create market-leading programmable logic devices that deliver a wider range of capabilities than customers experience today,” McNamara says.

To read about the initial announcement of Intel's efforts to acquire Altera, read "Intel to buy FPGA maker Altera for more than $16 billion."

Intel officials state they expect the acquisition to be accretive to non-GAAP EPS and free cash flow in the first full year after close, which is consistent with prior guidance. Intel expects the acquisition to be dilutive to GAAP EPS in the first full year after close primarily due to acquisition-related expenses.

For additional information about the transaction, visit: http://intelacquiresaltera.transactionannouncement.com/.