Apr 16, 2025 | Posted by Abdul-Rahman Oladimeji
Intel has agreed to sell 51 percent of FPGA chip company Altera to private equity firm Silver Lake for $8.75 billion. Altera will retain a 49 percent stake in Altera, which Intel said will allow it to “participate in Altera’s future success while focusing on its core business.” Intel also announced that Raghib Hussain will succeed Sandra Rivera as chief executive officer of Altera, effective May 5, 2025.
“Today’s announcement reflects our commitment to sharpening our focus, lowering our expense structure, and strengthening our balance sheet,” said Lip-Bu Tan, newly appointed CEO of Intel. “Altera continues to make progress repositioning its product portfolio to participate in the fastest growing and most profitable segments of the FPGA market.”
He added: “We are grateful for Sandra’s strong leadership and lasting impact throughout her 25-year Intel career and wish her continued success as she begins a new chapter… We look forward to partnering with Silver Lake upon closing of the transaction, as their industry expertise will help to accelerate Altera's efforts and unlock additional economic value for Intel.”
