Silver Lake Makes Majority Investment in Intel’s Altera Business
Silver Lake, a technology investment firm, has entered into a definitive agreement with Intel Corporation to acquire 51% of its Altera business. The transaction, which values Altera at $8.75 billion, establishes Altera’s operational independence and, according to Intel, makes it the largest pure-play field programmable gate array (FPGA) semiconductor solutions company.
Intel will own the remaining 49% of the Altera business, enabling it to participate in Altera’s future while focusing on its core business. Intel previously launched Altera as a standalone FPGA company in March 2024 after indicating its intent in October 2023. The company had been operating as Intel’s Programmable Solutions Group since its acquisition in 2015.
“This investment represents a once-in-a-generation opportunity to invest in a scale leader in advanced semiconductors,” said Kenneth Hao, chairman and managing partner of Silver Lake. The company will focus on investing Altera’s technology in AI specific markets like robotics and edge computing.
Concurrently, Raghib Hussain has been appointed to succeed Sandra Rivera as CEO of Altera, effective May 5. Hussain joins Altera from his previous role as president of products and technologies at Marvell. Prior to joining Marvell in 2018, he served as COO of Cavium, a company he co-founded, and in engineering roles at both Cisco and Cadence.
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