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Intel sells majority stake in Altera chip business to Silver Lake for $8.75 billion.
Intel is selling a majority stake in its Altera chip business to private equity firm Silver Lake for $8.75 billion, with Silver Lake owning 51% of Altera.
The sale, expected to close this year, is part of Intel's plan to refocus on core operations, reduce expenses, and strengthen its balance sheet.
Intel acquired Altera in 2015 for $16.7 billion.
The move is aimed at revitalizing Intel's performance under new CEO Lip-Bu Tan.
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Intel vende la participación mayoritaria en el negocio de chips de Altera a Silver Lake por $8.750 millones.