Altera’s FPGA subsidiary sells 51% stake to Silver Lake investment fund.

Intel announces the sale of 51% of Altera, its subsidiary that specializes in FPGA business, to Silver Lake fund, in accordance with previous rumors.

Intel acquired Altera in 2015 for a whopping $16.7 billion, but their recent financial struggles have led them to attempt to sell off non-core subsidiaries or businesses.

This deal to sell Altera shares has reduced the company’s value to $8.75 billion. With Silver Lake holding over half of the shares, Altera will now operate independently from Intel and will appoint Raghib Hussain, a Marvell executive, as the new CEO in May 2025.

TLDR: Intel is selling 51% of Altera to Silver Lake following financial issues, with Altera gaining independence from Intel and appointing a new CEO in May 2025.