The empire of chip making giant Intel (NASDAQ: INTC ) has expanded even further. Its business unit Mashery announced it has acquired Hacker League, an organizer of "hackathons" -- events in which groups of people meet to collaborate on programming projects. The terms of the deal were not disclosed, although IT news website TechCrunch said the cost was "significantly smaller" than the $180 million Intel reportedly paid to acquire Mashery this past April.
Mashery, a provider of application programming interface management solutions, cited its growing need to organize developer events as a key reason for the acquisition. In an official company blog post, Mashery general manager Oren Michels said that with its new acquisition his firm "can now deliver the best-in-class tool for developers and hackathon organizers to easily post and share information about events, hacks, and prizes."
The deal covers only the assets of Hacker League. The company's three founders will not remain with it under the new ownership.