Intel To Scoop Granulate Cloud Solutions In $650M Deal

Intel Corp INTC agreed to acquire Granulate Cloud Solutions Ltd.
The deal is worth $650 million, Tech Crunch reports.
Granulate is an Israel-based developer of real-time continuous optimization software.
The acquisition would help cloud and data center customers maximize compute workload performance and reduce infrastructure and cloud costs.
Intel Datacenter and AI Group EVP and GM Sandra Rivera said, "Granulate's cutting-edge autonomous optimization software can be applied to production workloads without requiring the customer to make changes to its code, driving optimized hardware and software value for every cloud and data center customer."
Intel held $29.5 billion in cash and equivalents as of December 25.
Price Action: INTC shares traded lower by 3.64% at $49.56 on the last check Thursday.