Microsoft famously acquired Danger Mobile and then crushed it destroying the first widely adopted smartphone tech for consumers.
If Microsoft could be so short sighted that they ceded their market to Apple and Google I think it's safe to say that Intel is incompetent enough to bungle these acquisitions.
Intel used to make DRAM, and it transitioned its business to CPUs. Perhaps Intel is doing the same here, it noticed that it's future in is FPGAs now.
Also, there are tons of acquisitions in tech that were successful. Not sure you can mesure the future of any business on that.
Microsoft bought Danger in 2008, 5 years after Andy Rubin left to start Android [0]. 2008 was also the year after iOS was released and the year Android was released. Too little, too late.