Intel To Offload 51% Of Altera Business To PE Firm Silver Lake

On Monday, Intel Corp INTC announced plans to sell 51% of its Altera business to Silver Lake at a valuation of $8.75 billion.Intel will own the remaining 49% of the Altera business, enabling it to participate in Altera’s future success while focusing on its core business.Intel also announced that Raghib Hussain will succeed Sandra Rivera as CEO of Altera, effective May 5. Also Read: Taiwan Semiconductor Clocks Massive Q1 Revenue Growth Despite US TensionsThe transaction will likely close in the second half ...