Intel FPGAs offer a wide variety of configurable embedded SRAM, high-speed transceivers, high-speed I/Os, logic blocks, and routing. Built-in intellectual property (IP) combined with outstanding software tools lower FPGA development time, power, and cost. Altera will operate as a new Intel business unit called the Programmable Solutions Group (PSG), led by Altera veteran Dan McNamara. Intel is committed to a smooth transition for Altera customers and will continue the support and future product development of Altera’s many products, including FPGA, ARM ® -based SoC and power products. Intel and Altera announced on June 1, 2015, that they had entered into a definitive agreement under which Intel would acquire Altera for $54 per share in an all-cash transaction valued at approximately $16.7 billion. The transaction closed December 28, 2015. The acquisition will couple Intel’s leading-edge products and manufacturing process with Altera’s leading field-programmable gate array (FPGA) technology.