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.
Fool contributor Eric Volkman has no position in Intel. The Motley Fool recommends and owns shares of Intel. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.