The world's largest manufacturer of semiconductor products,
) announced that it has acquired San Francisco-based startup
Mashery Inc.for $180 million.
Founded in 2006, Mashery provides technological solutions in
application programming interfaces (API) to some of the leading
brands such as USA TODAY,
), Hoover's, Klout, Associated Press, Rdio and Travelocity. API
comprises pieces of code and other specifications that facilitate
software development. The acquisition marks Intel's efforts to
further build its software business.
APIs are basically a set of routines, protocols and tools for
building software applications. Good APIs make it easier to
develop a program by providing all the building blocks, which the
programmer can put together.
Currently, firms such as
), Amazon Web Services and
) all use this technology to run their businesses. Microsoft
Corp, IBM, Layer 7, Apirio and MuleSoftall provide API management
Intel sells chips, which are used in server systems that
companies use to share information with mobile devices. Mashery
provides the building blocks that are used by software developers
to make user interaction possible. The acquisition furthers
Intel's efforts in the software and services segment.
Intel reported revenues of $12.58 billion, within the guidance
range of 12.7 billion (+/-$500 million) in the first quarter of
fiscal 2013, down 6.7% sequentially and 2.5% year over year.
Weaker-than-expected PC demand stemming from tablet
cannibalization and restrained consumer buying due to tighter
budgets continued in the quarter.
Currently, Intel shares carry a Zacks Rank #3 (Hold).
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