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Altera buying a Danish unit of Applied Micro

The Associated Press

Chip maker Altera Corp. has bought Applied Micro Circuits Corp.'s Danish unit, TPACK, to build its business making parts for fiber-optic networks.

The companies didn't release a price Monday.

TPACK's customers include suppliers of optical networking equipment. San Jose, Calif.-based Altera has worked with TPACK on marketing and development since 2007.

Applied Micro will keep license rights to TPACK technology after the sale, which is expected to close this month.

Shares of Altera fell 53 cents, or 1.6 percent, to $32.77 in regular trading and shed another 20 cents to $32.57 after-hours. Sunnyvale, Calif.-based Applied Micro's shares fell 30 cents, or 4 percent, to $7.17 and were inactive after the market close.