Intel on Monday announced that it has entered into a definitive agreement to sell 51% of its Altera semiconductor business to Silver Lake, a private equity firm.
The deal, which values Altera at $8.75 billion, will make Altera “operationally independent,” Intel said in a press release. Intel will retain 49% ownership in Altera, which will be led by Raghib Hussain, who’s set to succeed Sandra Rivera as CEO on May 5, 2025.
“Today’s announcement reflects our commitment to sharpening our focus, lowering our expense structure and strengthening our balance sheet,” said Intel CEO Lip-Bu Tan in a statement. “Altera continues to make progress repositioning its product portfolio to participate in the fastest growing and most profitable segments of the FPGA market.”
This is a developing story, check back for updates.
