by Arsheeya Bajwa
(Reuters) – Intel announced on Monday that it has accepted an agreement to sell its 51% participation in its subsidiary of programmable chips Altera to the American fund Silver Lake, for an amount of $ 4.46 billion (3.93 billion euros).
The sale will allow Intel to increase its liquidity while the new director general LIP-BU Tan has launched a redesign of the group’s activities, whose finances were undermined by the subcontracting strategy of former leader Pat Gelsinger.
The operation values ​​altera at 8.75 billion dollars, or almost half of the amount set by Intel for its acquisition in 2015, and should be finalized during the second half of 2025.
Raghib Hussain, former manager of Marvell, will take the direction of Altera on May 5.
Intel now wants to impose itself in the artificial intelligence sector, dominated by Nvidia, while its Rival AMD threatens its stranglehold on the central processor market.
“Altera’s sale is involved in a lower and low -level market -performance market cycle in Altera. This is not the best time to sell,” said Hendi Susanto, portfolio manager at Gabelli Funds, who holds Intel shares.
However, “some investors could see the transaction of a more positive eye, in the sense that Intel focuses more on its main activities”.
(Written by Zaheer Kachwala and Arsheeya Bajwa in Bangalore; Kate Entringer)
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