Intel is reshaping its semiconductor portfolio with a major strategic move: selling a 51% stake in its Altera business to Silver Lake, a global technology investment firm. Valued at $8.75 billion, the deal will establish Altera as an independent company and the largest pure-play provider of FPGA (field programmable gate array) solutions in the market.
This transaction is designed to sharpen Intel’s focus on its core business while enabling Altera to pursue new growth opportunities in high-demand sectors such as AI, edge computing, and robotics. Intel will retain a 49% ownership stake, maintaining a strategic foothold in Altera’s future without directly managing day-to-day operations. The agreement also positions Altera to scale more efficiently by leveraging Silver Lake’s investment expertise and market access.
As part of this transition, Altera will welcome new leadership. Raghib Hussain, a seasoned semiconductor executive and president of Products and Technologies at Marvell, will step in as CEO on May 5, 2025. His background spans leadership roles at Cavium, Cisco, and Cadence, and he brings deep experience in both engineering and business development to guide Altera into its next phase.
With over four decades of experience in programmable logic, Altera continues to serve a diverse customer base across industrial, communications, defense, and AI sectors. Its restructured path as an independent entity aims to improve agility, deepen specialization, and deliver FPGA innovations aligned with the growing needs of next-generation compute environments.
The transaction is expected to close in the second half of 2025, pending regulatory approval. Once finalized, Intel will deconsolidate Altera from its financials—a shift that reflects both a streamlining of Intel’s operational model and a long-term bet on Altera’s standalone growth trajectory.
