Intel Corporation, a semiconductor company, has entered into a definitive agreement to sell 51% of its Altera business to Silver Lake for $8.75 billion. This move grants Altera operational independence and positions it as the largest pure-play FPGA (field programmable gate array) semiconductor solutions provider. Altera will continue to innovate in AI-driven markets and focus on expanding its FPGA technology. Intel will retain a 49% stake in Altera, maintaining involvement in the company’s growth while focusing on its primary business.
Raghib Hussain will take over as Altera’s CEO on May 5, 2025. Hussain, previously the President of Marvell and a Co-Founder of Cavium, brings vast experience to the role. Intel’s CEO, Lip-Bu Tan, praised Hussain’s industry background, which will support Altera’s growth and development as an independent company. Additionally, Silver Lake’s investment is expected to strengthen Altera’s position in emerging sectors like edge computing and robotics. Kenneth Hao, Chairman of Silver Lake, expressed enthusiasm for the partnership, which will help Altera continue its growth trajectory in the rapidly developing semiconductor market. The transaction is set to close in the second half of 2025, subject to regulatory approvals and customary conditions. Upon completion, Intel will deconsolidate Altera’s financial results, marking a new phase for both companies.
