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 targets emerging areas like edge AI and robotics with its technology.
The sale should finish in late 2025 if all conditions are met. Last year, Altera earned $1.54 billion in revenue but reported an operating loss of $615 million. After adjustments, the company showed $35 million in operating income. Both companies plan to work together strategically after the deal closes, with Intel providing US-based manufacturing services.
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 targets emerging areas like edge AI and robotics with its technology.
The sale should finish in late 2025 if all conditions are met. Last year, Altera earned $1.54 billion in revenue but reported an operating loss of $615 million. After adjustments, the company showed $35 million in operating income. Both companies plan to work together strategically after the deal closes, with Intel providing US-based manufacturing services.
