Altera Corporation is a global semiconductor company that designs, manufactures, and markets programmable logic devices and associated development tools. The Company products include a variety of programmable logic devices and hardcopy application specific integrated circuits.
Intel is set to sell a majority stake in its programmable-chip unit, Altera, to private-equity firm Silver Lake. This move aligns with Chief Executive Lip-Bu Tan's earlier statement regarding the spin-off of some non-core businesses.
Following the transaction, Intel will retain a 49% ownership in Altera. This arrangement enables Intel to benefit from Altera's future growth while allowing the company to concentrate on its primary operations.
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