Company Overview
Altera Corporation, founded in 1983, is a prominent manufacturer of programmable logic devices (PLDs) including FPGAs, CPLDs, embedded systems, and ASICs. Initially headquartered in San Jose, California, it became a subsidiary of Intel Corporation in 2015. In October 2023, Intel announced Altera's return as a standalone entity starting early 2024, while maintaining majority ownership. This transition was highlighted during the FPGA Vision Webcast by CEO Sandra Rivera and COO Shannon Poulin on February 29, 2024.
Executive Leadership
Altera's leadership is spearheaded by CEO Sandra L. Rivera, formerly of Intel, bringing robust expertise in data center and AI sectors. Her leadership emphasizes a customer-centric approach with strategic foresight to drive Altera towards capitalizing on AI and emerging tech opportunities. Altera remains committed to providing programmable solutions and AI capabilities across sectors like telecommunications, cloud, data centers, industrial automation, automotive, and military applications.
Strategic Initiatives and Products
Altera's strategic expansion is driven by its focus on target FPGA markets and leveraging AI for innovation. Key offerings include the Agilex series:
- Agilex 9: Industry-leading data converters for critical applications, such as radar and aerospace.
- Agilex 7: High-performance solution for compute-intensive applications, delivering exceptional performance per watt.
- Agilex 5: Notable for integrating AI into the FPGA fabric for embedded and edge applications.
- Agilex 3: Upcoming product tailored for low-complexity tasks in cloud, communications, and intelligent edge fields.
Altera also provides the Quartus Prime design software, offering a comprehensive platform for FPGA, SoC FPGA, and CPLD designs with high-level synthesis tools and OpenCL support.
Financial Background
In 2014, Altera reported significant financial metrics: revenues of $1.932 billion, a net income of $472 million, and total assets and equity standing at $5.674 billion and $3.285 billion respectively. These robust figures reflect the company's financial strength and innovative prowess.
Market Position and Outlook
Altera is strategically positioned to lead in programmable solutions, underpinned by advancements in AI and FPGA technology integration across various industries. Re-establishing as an independent brand empowers Altera to vigorously pursue its strategic roadmap. With Sandra Rivera steering the company, Altera is dedicated to delivering comprehensive FPGA solutions, AI capabilities, and design tools globally while ensuring strong supply chains and customer fulfillment.
Competitor Profiling for Altera
Understanding Altera's market stance involves analyzing its competition, mainly in electronic health records (EHR), where the following key players are paramount:
Epic Systems Corporation
Epic Systems Corporation dominates the U.S. EHR market with its comprehensive software utilized by hospitals managing records for 78% of U.S. patients. Known for its Chronicles database management system, Epic offers solutions in clinical, lab, pharmacy, radiology, and billing. In 2022, Epic achieved $4.6 billion in revenue and employed 13,000 people. Their notable clients include Cedars-Sinai, Cleveland Clinic, and Mayo Clinic.
Oracle Cerner
Oracle Cerner, integrated into Oracle Corporation since June 2022, delivers health IT solutions globally with $5.5 billion in revenue and 26,400 employees. Cerner Millennium, the key product, is essential for large-scale health systems, such as the implementation within the U.S. Department of Defense.
Athenahealth
Athenahealth, acquired by Bain Capital and Hellman & Friedman for $17 billion, offers cloud-based integrated services like athenaOne. Operating from Boston, it supports over 60,000 providers across the U.S., providing extensive healthcare solutions.
Meditech
Founded in 1969, Massachusetts-based Meditech specializes in EHR solutions with products like Meditech Expanse, a versatile platform favored globally for its intuitive systems crafted for diverse healthcare needs.
Key Insights
Altera's competitors—Epic, Oracle Cerner, Athenahealth, and Meditech—hold significant EHR market shares across various segments. Whereas Epic and Oracle Cerner excel in large healthcare systems, Athenahealth focuses on flexible cloud-based services, and Meditech on customizable and interoperable solutions. To sharpen its competitive edge, Altera should emphasize its unique offerings and target spaces where these competitors are less dominant, exploring opportunities in enhanced interoperability and tailored user-friendly solutions across the healthcare spectrum.
