17 September 2016, USA :
Intel Corporation, one of the world’s largest and highest valued semiconductor chip makers based on revenue reportedly acquired US-based chip-design company, Soft Machines for $300 million.
“It is a cash-cum-stock deal with a cash component of over $250 million,” said one of the sources, who did not want to be identified, adding that “all the professionals of Soft Machines have become part of Intel from Thursday.” The news was first reported by technology website The Register.
Silicon Valley-based Soft Machines was founded in 2006 by Mahesh Lingareddy and Mohammad A Abdallah. It is a semiconductor company co-developing VISC architecture-based processor and SoC products for all major performance computing platforms and has raised close to $175 million in funding to date. Corporate headquarters are in Santa Clara, California, U.S., with operations in India and Russia.
All existing investors will exit the venture and Intel will take full control, the sources said. Teams from Intel have already initiated the process of expanding the four-year-old operations of Soft Machines in Hyderabad by acquiring office space in the Financial District ET reported.