This morning Intel confirmed it had bought Altera, maker of programmable chips, for $16.7 billion. That may seem like a big number until you consider that Avago Technologies Ltd. bought wireless-chip maker Broadcom last week for $37 billion.
It’s a good week to be in the chip business.
According to published reports, the deal has been in the works for months, but perhaps the Avago-Broadcom sale pushed it along a bit. Whatever the reason, Altera stock holders walked away a happy bunch.