Silver Lake in Exclusive Talks to Acquire Majority Stake in Intel’s Altera
Global investment firm Silver Lake is in exclusive negotiations to acquire a majority stake in Intel’s programmable chip business, Altera, in a deal potentially valued at around $9 billion, according to Reuters.
Silver Lake is currently finalizing the details of its investment, although the exact shareholding percentage has not yet been determined. A source familiar with the matter indicated that discussions could face delays.
Intel had acquired Altera in 2015 for approximately $17 billion. Last November, Reuters reported that Silver Lake, Bain Capital, and several other firms were competing to purchase a minority stake in Altera.
This transaction could be significant for Intel, as the company is looking to divest certain businesses as part of its cost-cutting strategy. Former Intel CEO Pat Gelsinger had stated last October that the company planned to take Altera public in the future after selling a stake.
Meanwhile, Intel’s rivals, Taiwan Semiconductor Manufacturing Company (TSMC) and Broadcom, have expressed interest in potential deals related to Intel’s business restructuring, according to The Wall Street Journal.
