The operation positions Altera as the largest independent company specializing in FPGA solutions and strengthens its focus on emerging markets such as AI, edge computing, and robotics.
Intel has announced the sale of 51% of its Altera business to the technology investment firm Silver Lake, in a deal valued at $8.75 billion. The transaction—which will grant Altera operational independence—positions the company as the largest independent provider of FPGA (field-programmable gate array) semiconductor solutions in the world.
As part of this strategic move, Intel will retain 49% of the business, ensuring its participation in Altera’s future growth while continuing to focus on its core business. The transaction is expected to close in the second half of 2025, subject to customary regulatory conditions.
New Leadership with a Vision for AI
The company has also confirmed the appointment of Raghib Hussain as the new CEO of Altera, succeeding Sandra Rivera, effective May 5. Hussain is a veteran in the tech industry, having previously served as president of Products and Technology at Marvell, co-founded Cavium, and held positions at Cisco, Cadence, and VPNet.
“This announcement reinforces our commitment to strategic focus, cost optimization, and strengthening our balance sheet,” said Lip-Bu Tan, CEO of Intel. “Silver Lake will bring expertise and support to accelerate Altera’s innovation in key markets such as artificial intelligence.”
Investment in High-Growth Markets
Silver Lake, which manages assets valued at $104 billion, sees this investment as a “once-in-a-generation opportunity” to lead the advanced semiconductor market. According to its chairman, Kenneth Hao, the goal is to strengthen Altera’s technological leadership in fast-growing areas like AI, edge computing, and robotics.
Altera, which has been at the forefront of FPGA innovation for over 40 years, maintains a strong presence in sectors such as industrial, communications, data centers, defense, aerospace, and more recently, in emerging technologies.
Financial Results and Future
In 2024, Altera generated around $1.54 billion in revenue, with a GAAP operating loss of $615 million, although it had a non-GAAP operating profit of $35 million. Intel expects to de-consolidate Altera’s accounts from its financial statements following the completion of the transaction.
The transition marks a new phase for Altera as an independent company, strengthened by Silver Lake’s backing and Hussain’s leadership. “We are poised to become the world’s number one provider of FPGA solutions,” stated the new CEO.
For more information, visit newsroom.intel.com.