Altera Corp. announced that its stockholders have overwhelmingly approved its pending merger with Intel Corp., with more than 97 percent of votes cast in favor of the merger.
Altera and Intel entered into an agreement on May 31, 2015, providing for Altera to merge with Intel. The closing of the merger is subject to regulatory review and other customary conditions. Once completed, Altera will operate as an Intel business unit.
Altera will continue manufacturing systems on a chip (SoC) that incorporate ARM Holdings’ processor and field programmable gate array (FPGA) designs, Intel CEO Brian Krzanich said. ARM is a big rival of Intel’s in mobile chips.