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“Intel’s Strategic Move: Silver Lake to Acquire Controlling Stake in Altera Chip Business”
Intel announced on Monday its decision to sell a 51% stake in its Altera semiconductor business to private equity firm Silver Lake in a deal valued at $8.75 billion. This move will make Altera an “operationally independent” division, with Intel retaining a 49% stake in the company. Raghib Hussain is set to take over as CEO from Sandra Rivera on May 5.
The decision to sell comes as part of Intel’s strategy to streamline its focus, reduce expenses, and strengthen its financial position. Altera, known for its field-programmable gate arrays (FPGAs), was founded in 1983 and acquired by Intel in 2015 for $16.7 billion. It has since seen significant growth in the FPGA market, with projected revenues of $25.8 billion by 2029.
Altera’s revenue in fiscal year 2024 reached $1.54 billion, highlighting its position as a key player in the industry. The transaction with Silver Lake is expected to close in the second half of 2025, signaling a new chapter for Altera under new leadership.
