In a statement, the company announced that the deal ensures the “operational independence” of Altera, the largest company specializing in programmable microchips, which are used in industries such as telecommunications, automotive, and aerospace.
The financial terms of the deal were not disclosed, but according to the same statement, the agreement values Altera at $8.75 billion (approximately 7.704 billion euros).
Raghib Hussain, the product and technology director of the semiconductor manufacturer Marvell, will take on the role of Chief Executive Officer (CEO) of Altera, succeeding Sandra Rivera.
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