Intel Sells 51% Stake in Altera to Silver Lake in $8.75 Billion Deal

Intel Corporation has announced the divestiture of a 51% stake in its Altera division to Silver Lake, valuing the programmable logic company at $8.75 billion.

This transaction marks a significant shift in Intel’s focus, enabling the tech giant to streamline its business while retaining a 49% interest in Altera, ensuring continued participation in its growth trajectory.

Intel revealed that Raghib Hussain, former president of Products and Technologies at Marvell, will assume the role of CEO of Altera, replacing Sandra Rivera, effective from May 5, 2025.

Hussain’s extensive experience, including his tenure as the Chief Operating Officer at Cavium, positions him well to lead Altera into a new era of innovation.

The deal underscores Altera’s pivotal role in the FPGA (Field Programmable Gate Array) market.

Known for its highly scalable architecture and comprehensive toolchain, Altera is geared towards meeting the demands of an AI-driven market, focusing on ...