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  • Thu, Nov. 3, 1:03 PM
    • To integrate with recently-formed Intel Sports Group.
    • The entities had collaborated previously, with Intel (NASDAQ:INTC) also already an investor in the operation.
    • James Carwana, GM Intel Sports Group: "Imagine being able to witness a slam dunk from the defender’s perspective or the defensive rush from the quarterback’s perspective. This kind of experience may sound futuristic, but it’s closer than you think."
    • While it remains to be seen what implementations will result from the purchase, the growing focus by Intel on the "digitization of sports" and technologies revolving around augmented and virtual reality continues.
    • Intel press release
    • VOKE press release
    | Thu, Nov. 3, 1:03 PM | 2 Comments
  • Wed, Sep. 7, 4:29 PM
    • Intel (NASDAQ:INTC) will receive $3.1B in cash and retain a 49% stake on transaction finalization.
    • Spin-off to formally be known as McAfee.
    • Intel Security SVP and general manager Chris Young will head the new company.
    • Brian Krzanich, Intel CEO: "Security remains important in everything we do at Intel and going forward we will continue to integrate industry-leading security and privacy capabilities in our products from the cloud to billions of smart, connected computing devices. As we collaborate with TPG to establish McAfee as an independent company, we will also share in the future success of the business and in the market demand for top-flight security solutions, creating long-term value for McAfee’s customers, partners, employees and Intel’s shareholders. Intel will continue our collaboration with McAfee as we offer safe and secure products to our customers."
    • Chris Young's message to stakeholders
    • Press release
    | Wed, Sep. 7, 4:29 PM | 53 Comments
  • Wed, Sep. 7, 3:33 PM
    • Reports the two parties were conducting talks surfaced last week.
    • New developments are now claimed to have emerged with a debt inclusive $4.2B sale of Intel's (INTC -0.5%) security division supposedly close to realization.
    | Wed, Sep. 7, 3:33 PM | 8 Comments
  • Tue, Sep. 6, 9:32 AM
    • Intel (INTC +1.1%) intends to integrate Movidius' technology into its RealSense platform.
    • Intel's Josh Walden: "With Movidius, Intel gains low-power, high-performance SoC platforms for accelerating computer vision applications. Additionally, this acquisition brings algorithms tuned for deep learning, depth processing, navigation and mapping, and natural interactions, as well as broad expertise in embedded computer vision and machine intelligence." He further cites augmented, virtual and merged reality, robotics, drone, camera and other use cases for the technology.
    • Movidius was founded in 2006 and named number 30 on MIT Technology Review's '50 Smartest Companies 2016' list.
    • Intel announcement
    • Movidius announcement
    | Tue, Sep. 6, 9:32 AM | 11 Comments
  • Thu, Sep. 1, 3:07 PM
    • Previously interested parties Permira Holdings and Thoma Bravo are now said to have retreated from active pursuit of the division.
    • The discussions held with TPG have supposedly valued the business at up to $3B, though other private equity and corporate candidates are said to remain in the mix.
    • Intel (INTC -0.1%), however, may not unload the unit at all according to sources and has not so far hired any banks to affiliate a sale. The move nonetheless appears to remain under consideration as the company looks to focus more on higher-profit business segments.
    | Thu, Sep. 1, 3:07 PM
  • Tue, Aug. 9, 4:21 PM
    • The deal is reportedly worth north of $350M.
    • From Diane Bryant, Intel's (NASDAQ:INTC) executive vice president and general manager of the Data Center Group: "Their IP and expertise in accelerating deep learning algorithms will expand Intel’s capabilities in the field of AI. We will apply Nervana’s software expertise to further optimize the Intel Math Kernel Library and its integration into industry standard frameworks. Nervana’s Engine and silicon expertise will advance Intel’s AI portfolio and enhance the deep learning performance and TCO of our Intel Xeon and Intel Xeon Phi processors."
    • Apple last week acquired machine-learning company Turi.
    • Intel press release
    • Nervana Systems CEO statement
    | Tue, Aug. 9, 4:21 PM | 8 Comments
  • Mon, Jun. 27, 2:00 AM
    • Intel (NASDAQ:INTC) is looking at options for its cyber security unit, including potentially selling the antivirus software maker formerly known as McAfee which it bought for $7.7B in 2010, FT reports.
    • The company has been trying to refocus its business toward selling chips for cloud computing rather than PCs, announcing plans this year to cut 12,000 jobs in its largest workforce reduction in a decade.
    | Mon, Jun. 27, 2:00 AM | 11 Comments
  • Thu, May 26, 7:25 PM
    • Intel (NASDAQ:INTC) is buying Itseez, a Russian developer of computer vision algorithms and related technology for embedded systems. Terms are undisclosed.
    • Intel: "This acquisition furthers Intel’s efforts to win in IoT market segments like automotive and video, where the ability to electronically perceive and understand images paves the way for innovation and opportunity. Itseez will become a key ingredient for Intel’s Internet of Things Group (IOTG) roadmap, and will help Intel’s customers create innovative deep-learning-based CV applications like autonomous driving, digital security and surveillance, and industrial inspection."
    • The acquisition comes less than two months after Intel bought Yogitech, an Italian provider of functional safety solutions for chips - they help prevent chips within cars, industrial equipment, and other embedded systems from failing, and alert users in the event that they do.
    • Last year, video processor developer Ambarella bought VisLab, an Italian developer of computer vision and intelligent control systems for cars and other products. Mobileye is currently the top provider of vision processors for the advanced driver-assistance system (ADAS) market. NXP and Nvidia are also eying the market.
    • Earlier: Intel abandons effort to sell VC portfolio assets
    | Thu, May 26, 7:25 PM | 33 Comments
  • Wed, Mar. 9, 10:22 AM
    • Intel (INTC +0.7%) is buying Replay Technologies, an Israeli developer of 3D video-rendering solutions that (with the help of high-res cameras and "compute-intensive graphics") let sports viewers see a game from virtually any angle. The WSJ reports Intel paid $150M-$170M. Israel's Globes reports of a $175M price tag.
    • Intel has partnered with Replay since 2013 to optimize Replay's content for the CPU giant's platforms, and notes Replay's freeD tech was used during this year's NBA All-Star Weekend (a demo can be found on Replay's site). "The freeD technology created a seamless 3-D video rendering of the court using 28 ultrahigh-definition cameras positioned around the arena and connected to Intel-based servers. This system allowed broadcasters to give fans a 360-degree view of key plays – providing thrilling replays and highlight reels that let fans see the slam dunks, blocks and steals from almost every conceivable angle."
    • Intel/Replay plan to continue pursuing the immersive sports market - "Immersive sports requires the high-performance computing Intel is known for, and it’s also data driven – fueling the continued build out of the cloud." - and also work to speed up freeD processing and add features such as the ability manipulate/edit personalized content.
    • Replay's content is a natural fit for VR headsets and 360° video platforms - Facebook, Google/YouTube, and GoPro are among the companies already making investments in 360°/spherical video. The WSJ reported last week Intel is working on an augmented reality headset platform.
    | Wed, Mar. 9, 10:22 AM | 24 Comments
  • Mon, Jan. 4, 3:54 PM
    • Intel (INTC -1.8%) is buying Ascending Technologies, a German maker of professional/civil and research-oriented drone lines. Terms are undisclosed.
    • The chip giant declares Ascending owns "best-in-class drone auto-pilot software and algorithms." Exec Josh Walden: "We’ve already partnered to combine Ascending Technologies’ sense-and-avoid algorithms with Intel™ RealSense technology’s real-time depth-sensing capability. Together, these technologies can, among other things, improve drone safety – helping them avoid obstacles and collisions. With Ascending Technologies, Intel gains expertise and technology to accelerate the deployment of Intel RealSense technology into the fast growing drone market segment."
    • The purchase comes five months after Intel announced a $60M+ investment in Chinese drone maker Yuneec. The company has also invested in drone OEMs Airwave and PrecisionHawk, as it squares off against Qualcomm, Nvidia, and early market leader Ambarella in the drone processor market. Both Qualcomm's Snapdragon Flight and Nvidia's Jetson TX1 platforms promise a measure of autonomous navigation support for drones.
    • Intel isn't a stranger to buying hardware firms for their technology and/or to help provide reference hardware platforms for OEM partners. Heads-up display maker Recon Instruments was acquired last year.
    | Mon, Jan. 4, 3:54 PM | 11 Comments
  • Dec. 29, 2015, 2:29 PM
    • Telecom chipmaker and ARM server CPU developer AppliedMicro (AMCC +6.6%) is rallying after Intel (NASDAQ:INTC) M&A chief Wendell Brooks signaled more deals are likely following yesterday's closing of Intel's $16.7B purchase of FPGA developer Altera. As are telecom and data center analog/mixed-signal chipmaker InPhi (IPHI +4.2%) and FPGA/CPLD developer Lattice Semi (LSCC +7.7%).
    • Brooks: "We are looking for adjacencies where we can bring our [manufacturing] process advantage to bear. Altera is a great first acquisition ... We’re doing things very differently than we have in the past ... The market very much rewards companies like Avago that are leading the charge. I think the impetus will continue."
    • AppliedMicro has long been the subject of M&A speculation. Meanwhile, Lattice CEO Darin Billerbeck suggested in June his company is open to a sale.
    • Of note: AppliedMicro and Lattice's shares have often made big moves in the past in the absence of major news, and all three companies have betas well above 1.
    | Dec. 29, 2015, 2:29 PM | 7 Comments
  • Dec. 28, 2015, 10:08 AM
    • Intel's (INTC -0.5%) $16.7B purchase of FPGA developer Altera (ALTR) is officially on the books. As previously announced, Intel expects the deal to be accretive to non-GAAP EPS and cash flow in its first year after closing, and dilutive to GAAP EPS due to M&A-related costs.
    • Altera will now operate as Intel's Programmable Solutions Group (PSG). Notably, PSG won't be led by Altera CEO John Daane (has a large golden parachute), but by Dan McNamara, previously the GM of Altera's embedded products division. McNamara's name doesn't currently appear on Altera's executive bio page.
    • Intel promises Altera/PSG will work with Intel's Data Center Group (server CPUs/network processors) and IoT Group (embedded CPUs and related products) to deliver "highly customized, integrated products and solutions." The company promised last month solutions pairing Xeon CPUs with Altera FPGAs will arrive in Q1, while estimating FPGAs will go into 30% of data center servers by 2020.
    • Last week: Chinese regulators approve Intel/Altera deal
    • Update: Deutsche's Ross Seymore estimates Altera will account for ~3% of Intel's 2016 revenue, and ~9% of DCG revenue. His Intel target has been upped by $1 to $37. "We now estimate Intel’s DCG revs to grow +21% y/y, up from +10% y/y previously as ALTR accounts for ~53% of y/y DCG rev growth. We model 2016 gross margins to benefit slightly (62.4% from prior DBe 62.2%) with opex increasing +2.7% from prior DBe to $20.9b ($20.4b previously). Our resulting 2016 EPS goes to $2.40 from $2.35 previously."
    | Dec. 28, 2015, 10:08 AM | 6 Comments
  • Dec. 21, 2015, 11:52 AM
    • China's Ministry of Commerce (MOFCOM) has signed off on Intel's (INTC - unchanged) purchase of Altera (ALTR +2%), thus providing the final regulatory clearance needed for the $16.7B ($54/share) all-cash deal to go through. (8-K filing)
    • The acquisition is now expected to close "on or about" Dec. 28. Altera has risen to within $0.09 of Intel's buyout price.
    • Two months ago: EU regulators approve Intel/Altera deal
    | Dec. 21, 2015, 11:52 AM | 10 Comments
  • Oct. 29, 2015, 3:19 PM
    • Raytheon's (RTN -0.5%) Websense security software unit is buying Intel's (INTC -1.8%) Finnish Stonesoft firewall/next-gen firewall unit, which was acquired by the chip giant in 2013 for $389M. Terms are unknown for now.
    • Trade site CRN has picked up a memo from Websense CEO John McCormack confirming the deal. The memo states Websense will be adding 300 employees, and that the deal is expected to close by year's end.
    • Stonesoft's hardware has been sold under the McAfee brand. From all indications, it has had a tough time competing against the likes of Cisco, Palo Alto Networks, Fortinet, and Check Point.
    • Earlier this year, Intel re-branded its McAfee unit as Intel Security, and formerly integrated the business with the rest of the company. More recently, Intel unveiled a security strategy focused on cloud and endpoint (device) protection. A new version of McAfee Endpoint Security (version 10.X) was announced, as was a new threat-detection/incident-response tool called McAfee Active Response.
    | Oct. 29, 2015, 3:19 PM | 1 Comment
  • Oct. 9, 2015, 2:49 PM
    • Reuters reports EU regulators have approved Intel's (NASDAQ:INTC) planned $54/share ($16.7B) acquisition of Altera (ALTR +1.3%), following September clearance from the DOJ. Regulatory approval has been widely expected - Intel doesn't compete with Altera's core FPGA products, and Xilinx remains a formidable rival FPGA supplier.
    • Altera still trades $1.60 below Intel's buyout price. SA author Chris DeMuth Jr. has been arguing a good merger arb opportunity exists. He estimated yesterday Altera's net arbitrage spread (diminished a bit today) spelled a 15% annual return.
    • 3 days ago: Altera shareholders approve Intel deal
    | Oct. 9, 2015, 2:49 PM | 8 Comments
  • Oct. 6, 2015, 6:37 PM
    • As expected, Altera (NASDAQ:ALTR) shareholders have approved Intel's (NASDAQ:INTC) $54/share ($16.7B) purchase of the company.
    • Over 97% of shareholder votes were cast in favor of the deal. When it was originally announced on June 1, Intel/Altera stated they expected it to close within 6-9 months.
    | Oct. 6, 2015, 6:37 PM | 3 Comments