Intel to Sell 51% Altera Stake to Silver Lake Amid Cost Cuts (3)

Intel Corp. has agreed to sell a 51% stake in its programmable chips unit Altera to Silver Lake Management, making good on plans to start spinning off non-core assets.

The transaction values Altera at $8.75 billion, according to a statement on Monday, about half what Intel paid for it a decade ago. Intel will continue to hold a 49% stake in the business. The deal is expected to close in the second half of 2025. Bloomberg reported previously on the talks between the two companies.

Intel will receive about $3.4 billion in cash from Silver Lake as part of ...