Read Intel's press release.
I wonder what that means for Havok on non-Intel platforms. Like all current consoles. Is it RenderWare all over again? Well, probably not, but it might have some amusing effects on the middleware market.
Update: Since I just phrased it so nicely in an ICQ conversation about the similarities between this acquisition and EA buying Criterion: I don't think Intel will screw up Havok (at least, not in the way EA arguably screwed up the Renderware bits of Criterion). Intel doesn't need Havok for its own development. Intel needs other people to need Havok and Intel needs other people to buy the CPUs that Havok needs. Intel has a history of buying companies that produce software that requires heavy processing power. Still, I'd worry if I were in Havok's AMD optimization team.