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💼 Intel is nearing an agreement to sell a stake in its programmable chip unit, Altera, to private equity firm Silver Lake Management.
📉 This move is part of a broader restructuring effort as Intel seeks to shed non-core assets and refocus its business.
💰 Intel acquired Altera in 2015 for approximately $17 billion, but recent valuations by interested parties were significantly lower, suggesting a potential write-down.
@bernardodegarcia:
“Intel’s shares are rising. We’re seeing a significant climb now after the tremendous fall they were experiencing, reaching around $21. It seems they are about to reach an agreement to sell a participation of its programmable chips unit to Silver Lake Management, as the struggling U.S. company begins to divest businesses and assets that are not central to its main activity. Intel could announce a deal to sell Altera to the private equity firm this very week, according to people with inside information who asked not to be identified as it is a private deal. Both companies have been negotiating an agreement involving the sale of a majority stake by Intel in the unit, as reported previously by Bloomberg News. Intel agreed in 2015 to pay approximately $17 billion for Altera, whose multi-use chips are primarily used in telecommunications networks. In 2024, the American chip manufacturer announced it would seek to sell a stake in Altera as part of a broader plan to restructure its business. Altera attracted interest from Lattice Semiconductor and a group of acquisition firms, but ultimately, as we are seeing, Silver Lake is acquiring it. Some interested parties had valued Altera as low as $9 billion, a haircut for Intel’s investment.”
Watch the exact part of the video where @bernardodegarcia talks about Intel here:
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