Intel on verge of Altera buy - report

Intel could complete $15bn acquisition of fellow chip maker by end of next week

Chip-making goliath Intel is on the verge of buying fellow chip maker Altera for a deal worth about $15bn (£10bn), according to the New York Post.

Talk of a deal between the two has been going around for a while, with Reuters reporting that Altera rejected a $54-per-share offer in April.

Now it seems an agreement could be very close, with a source telling the New York Post a deal could go through by the end of next week.

If the acquisition does happen, it would not be Intel's first of 2015, with the chip maker already snapping up broadband and networking firm Lantiq earlier this year.

Founded in 1983, Altera claims to have 12,000 customers worldwide and operates in more than 20 countries. For Q1 2015, Altera's revenues were down nine per cent from its previous quarter to $435.5m.

Intel sent a statement to CRN which said it "does not comment on rumours or speculation".