By Sam Boughedda
Investing.com -- Intel Corporation (NASDAQ:INTC) has agreed on a deal to acquire Granulate Cloud Solutions, a real-time continuous optimization software developer.
The AI-based startup helps customers reduce CPU utilization and application latencies by learning their application and deploying a customized set of continuous optimizations.
The takeover deal has been widely reported for the past week. The transaction is expected to close in the second quarter of 2022, with Granulate’s approximately 120 employees to be integrated into Intel’s Datacenter and AI business unit.
There were no financial details on the deal provided.
"Today’s cloud and data center customers demand scalable, high-performance software to make the most of their hardware deployments," said Sandra Rivera, executive vice president and general manager of the Datacenter and AI Group at Intel.
"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," Rivera added.
Intel shares fell 1% Thursday.