The deal was announced on June 1. Altera will be swallowed up as a new Intel business unit called the Programmable Solutions Group (PSG), led by Altera veteran Dan McNamara.

Intel said that Altera customers should not notice much difference and it will continue the support and future product development of Altera's many products, including FPGA, ARM-based SoC and power solutions.

PSG will also work closely with Intel's Data Center Group and IoT Group to deliver the next generation of highly customized, integrated products and solutions, Chipzilla said.

Intel CEO Brian Krzanich in a statement:

"We will apply Moore's Law to grow today's FPGA business, and we'll invent new products that make amazing experiences of the future possible - experiences like autonomous driving and machine learning. Combining Altera's industry-leading FPGA technology and customer support with Intel's world-class semiconductor manufacturing capabilities will enable customers to create the next generation of electronic systems with unmatched performance and power efficiency."