Intel Corp. has agreed to sell a 51% stake in its programmable chips unit, Altera, to Silver Lake Management for $8.75 billion. This deal, which values Altera at roughly half of what Intel paid a decade ago, will bolster Intel's balance sheet and pave the way for strategic refocusing on core assets. Under new CEO Raghib Hussain, Altera aims to target emerging markets such as AI, edge computing, and robotics, which attracted significant interest and investment from Silver Lake, known for its work with semiconductor firms.
Intel's decision to divest a 51% stake in Altera to Silver Lake for $8.75 billion reflects its strategy to streamline operations and focus on core assets.
The transaction will bring $3.4 billion in cash to Intel and demonstrates Silver Lake's belief in the potential of advanced semiconductor technology in emerging markets.
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