Intel Corporation has entered into a definitive agreement to sell 51% of its Altera business to Silver Lake, a global leader in technology investing.

Accordingly, the transaction, which values Altera at US$8.75 billion, establishes Altera’s operational independence. Thus, this makes it the largest pure-play field programmable gate array (FPGA) semiconductor solutions company.

Altera offers a proven and highly scalable architecture and tool chain and is focused on driving growth and FPGA innovation to meet the demands and opportunities of an AI-driven market.

Drives FPGA Innovations

Altera has been at the forefront of driving FPGA innovations for more than 40 years. The company provides leading programmable solutions that are easy-to-use and deploy in a range of strategically important segments such as industrial, communications, data center and military, aerospace, and government, as well as emerging markets such as AI/edge and robotics.

Its broad portfolio of programmable semiconductor solutions, software and development tools deliver the reliability and flexibility needed to accelerate customer technology innovation.

The transaction is expected to close in the second half of 2025, subject to customary closing conditions.

Nonetheless, Intel will still own the remaining 49% of the Altera business. Therefore, this will still entitle the company to participate in Altera’s future success while focusing on its core business.

Intel also announced that Raghib Hussain will succeed Sandra Rivera as chief executive officer of Altera, effective May 5, 2025. Hussain is a highly accomplished and visionary technology executive with strong business acumen and engineering credentials. He joins Altera from his previous role as president of Products and Technologies at Marvell.

Prior to joining Marvell in 2018, Hussain served as chief operating officer of Cavium, a company he co-founded. Prior to Cavium, Hussain held engineering roles at both Cisco and Cadence and helped found VPNet, an enterprise security company.

Boosts Balance Sheet; Strengthens Edge Computing, Robotics

Lip-Bu Tan, chief executive officer of Intel  said the announcement reflects Intel’s commitment to sharpening its focus. At the same time, lowering Intel’s expense structure and strengthening its balance sheet.

“Altera continues to make progress repositioning its product portfolio to participate in the fastest growing and most profitable segments of the FPGA market. We are grateful for Sandra’s strong leadership and lasting impact throughout her 25-year Intel career and wish her continued success as she begins a new chapter,” said Tan.

Meanwhile, Tan vouched to the vast industry experience and proven track record of Hussain to carry on Altera’s success.

Propel’s Altera’s Leadership

Meanwhile, Kenneth Hao, chairman and managing partner of Silver Lake said the investment at Altera represents a “once-in-a-generation opportunity” to invest in a scale leader in advanced semiconductors. Hao said under Raghib’s leadership, they will focus on strengthening Altera’s technology leadership position and investing in emerging AI-driven markets such as edge computing and robotics.

Finally, Hussain said Silver Lake’s entry aims to further Altera’s journey to be the world’s top FPGA solutions provider.

16 April 2025