Intel said it signed a definitive agreement to sell 51% of its Altera business to Silver Lake on April 14, 2025. The company said the deal values Altera at $8.75 billion, and Intel will keep the remaining 49%.

1. 01

   Intel said it signed a definitive agreement to sell 51% of its Altera business to Silver Lake on April 14, 2025. The company said the deal values Altera at $8.75 billion, and Intel will keep the remaining 49%.

2. 02

   The company said it expects the transaction to close in the second half of 2025, subject to customary closing conditions. It also said it expects to deconsolidate Altera's financial results from Intel's consolidated financial statements upon closing.

3. 03

   The company said Altera generated revenue of $1.54 billion, GAAP gross margin of $361 million and a GAAP operating loss of $615 million in fiscal year 2024. Its non-GAAP gross margin was $769 million, and its non-GAAP operating income was $35 million.

4. 04

   The company said Raghib Hussain will succeed Sandra Rivera as chief executive officer of Altera effective May 5, 2025. It said Hussain previously served as president of Products and Technologies at Marvell.

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Original filing

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