Intel to sell majority stake in Altera for $4.46B [Yahoo! Finance]
Intel Corporation (INTC)
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Source: Yahoo! Finance
Intel is selling its majority stake in programmable chip maker Altera as the beleaguered semiconductor company works to rightsize its finances. The roughly $4.46 billion sale to private equity firm Silver Lake will give the tech-focused investment company 51% control of Altera, while Intel will retain a 49% stake. The transaction is expected to close in the second half of 2025. As part of the announcement, Intel also named Raghib Hussain, president of products and technologies for semiconductor developer Marvell, as CEO of Altera, replacing CEO Sandra Rivera. Hussain will step down from his position at Marvell effective May 2, according to a securities filing The deal is Intel's latest move to improve its financial standing and focus on succeeding in its core business segments. Upon closing, Altera will establish its operational independence, becoming the largest pure-play field programmable gate array semiconductor maker, according to Intel. Intel bought Altera a decade ag
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