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Stockreport

Intel sells majority stake in Altera to Silver Lake investors in a deal valued at $8.75 billion [Yahoo! Finance Canada]

Intel Corporation (INTC)  More Company Research Source: Yahoo! Finance Canada
Last intel corporation earnings: 4/23 04:07 pm Check Earnings Report
US:NASDAQ Investor Relations: intc.com/investor-relations/default.aspx
Silver Lake will own 51% of Altera, which Intel acquired in 2015 for $16.7 billion in an effort to expand its business into chip markets focused on wireless, automobiles and other products. At the time, it was the biggest deal in Intel Corp.'s history. Intel spun Altera off into an independent company earlier this year. Silver Lake's acquisition of Altera is expected to close in the second half of this year. “Today's announcement reflects our commitment to sharpening our focus, lowering our expense structure and strengthening our balance sheet,” said Intel CEO Lip-Bu Tan. ”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." Tan joined Intel as CEO just one month ago. Intel also announced that Raghib Hussain will succeed Sandra Rivera as chief executive officer of Altera, effective in early May. Intel shares were up 3.2% just after t [Read more]
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Stockreport

Intel sells majority stake in Altera to Silver Lake investors in a deal valued at $8.75 billion [Yahoo! Finance Canada]

Intel Corporation  (INTC) 
More Company Research Source: Yahoo! Finance Canada
Last intel corporation earnings: 4/23 04:07 pm Check Earnings Report
US:NASDAQ Investor Relations: intc.com/investor-relations/default.aspx
Silver Lake will own 51% of Altera, which Intel acquired in 2015 for $16.7 billion in an effort to expand its business into chip markets focused on wireless, automobiles and other products. At the time, it was the biggest deal in Intel Corp.'s history. Intel spun Altera off into an independent company earlier this year. Silver Lake's acquisition of Altera is expected to close in the second half of this year. “Today's announcement reflects our commitment to sharpening our focus, lowering our expense structure and strengthening our balance sheet,” said Intel CEO Lip-Bu Tan. ”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." Tan joined Intel as CEO just one month ago. Intel also announced that Raghib Hussain will succeed Sandra Rivera as chief executive officer of Altera, effective in early May. Intel shares were up 3.2% just after t [Read more]
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