Intel sells 51% of Altera, a chipmaker it acquired in 2015, to an investment fund
Intel has sold 51% of its shares in Altera, a major
Intel Announces Strategic Investment by Silver Lake in Altera :: Intel Corporation (INTC)
https://www.intc.com/news-events/press-releases/detail/1736/intel-announces-strategic-investment-by-silver-lake-in
Intel to sell majority stake in Altera for $4.46 billion to fund revival effort | Reuters
Intel is selling off a majority stake in chip-maker Altera for $4.46 billion
https://www.engadget.com/big-tech/intel-is-selling-off-a-majority-stake-in-chip-maker-altera-for-446-billion-205015269.html
Intel Announces Strategic Investment by Silver Lake in Altera | TechPowerUp
https://www.techpowerup.com/335431/intel-announces-strategic-investment-by-silver-lake-in-altera
According to Intel, the sale price of the shares is $ 4.46 billion (about 640 billion yen). When Intel acquired Altera in 2015, its valuation was $ 17 billion (about 2.44 trillion yen), but in 10 years, it has nearly halved to $ 8.75 billion (about 1.26 trillion yen).
Intel is in financial difficulty after multiple failed attempts to diversify under former CEO Pat Gelsinger, so asset sales, including Altera shares, are central to new CEO Lip Vu Tan's strategy to streamline the company, Reuters reported.
Intel appoints former director Lip Vu Tan as new CEO - GIGAZINE
Intel will continue to own 49% of Altera, allowing it to participate in Altera's future success while continuing to focus on its core business.
At Altera, CEO Sandra Rivera will step down on May 5, 2025, and Raghib Hussain will take over as CEO. Hussain is a co-founder of fabless semiconductor manufacturer Cavium , and after Cavium was acquired by semiconductor technology company Marvell Technology , he served as Marvell's president of products and technology.
Regarding the sale of Altera shares, CEO Tan made the following comments:
'This transaction reflects our efforts to sharpen focus, reduce costs and strengthen our balance sheet as Altera repositions its product portfolio to compete in the fastest growing and most profitable segments of the FPGA market. We thank Sandra for her strong leadership and long-term impact throughout her 25-year career at Intel and wish her continued success as she begins her new chapter. Raghib's extensive industry experience and track record make him an excellent executive we chose to lead the business forward. We look forward to partnering with Silver Lake following the close of the acquisition. Their industry knowledge will help accelerate Altera's efforts and unlock additional economic value for Intel.'
The transaction is expected to be completed in the second half of 2025.
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in Hardware, Posted by logc_nt