Intel Corporation agreed to sell 51% of its Altera business to tech investor Silver Lake. The deal values Altera at $8.75 billion and makes it the largest independent company focused on FPGA semiconductor solutions. Intel keeps 49% ownership, letting it benefit from future success as it concentrates on core operations. Raghib Hussain will become Altera CEO on May 5, replacing Sandra Rivera.
The move helps Intel focus its priorities, cut expenses, and strengthen its financial position. Hussain joins from Marvell, where he served as president of Products and Technologies, bringing extensive industry experience. Altera creates programmable solutions for industrial, communications, data center, and government markets. The company also...