(Bloomberg / Liana Baker, Jane Lanhee Lee and Donsh Nair) – Intel Corp. has agreed to sell a 51% participation in its Ble Chips Ble program alters Silver Lake Management, doing good in the plans to start turning non -basic assets.
The transaction values alters at $ 8.75 billion, according to a statement on Monday, approximately half of what Intel paid for it a decade ago. Intel will continue to have a 49% participation in the business. The agreement is expected to close in the second half of 2025. Bloomberg previously reported on the conversations between the two companies.
Intel will receive around $ 3.4 billion in cash from Silver Lake, part of the agreement, according to people’s family with the matter, who asked not to be identified because the matter is private.
Altera will be directed by Raghib Hussain, replacing Sandra Rivera as executive director. Hussain will join Marvel Technology Inc., where he is president of products and technologies.
“Today’s announcement reflects our commitment to sharpen our approach, reducing our expense structure and strengthening our balance,” said Intel CEO, Bu Bu Tan.
Silver Lake has a history of investing in semiconductor companies. It was an early sponsor or the Broadcom Inc. Acquisition strategy.
“This investment represents a unique opportunity in the generation of investing in a scale leader in advanced semiconductors,” said Kenneth Hao, president and managing partner of Silver Lake, who added that under a new alter leadership he will focus on investing on “emerging markets of AI, such as edge calculation and robotics.”
Intel’s shares increased to 6.6% after the markets opened in New York.
Intel agreed in 2015 to pay $ 16.7 billion per altera, whose multipurpose chips are mainly implemented in telecommunications networks. In 2024, the US chips manufacturer said he would seek to sell a participation in Altera, part of a broader plan to change his business. Altera attracted the interest of Lattice Semiconductor Corp. and a group of purchase firms, Bloomberg News reported.
Intel has lost market share to the rivals in recent years and the change to artificial intelligence accelerators was lost, a market now dominated by Nvidia Corp. The Board of Intel overthrew the CEO Pat Gelsinger last year after his return plan was slow to gain impulse.
So, who recently entered CEO’s role, said approximately two weeks ago that the chips manufacturer will cause assets that are not fundamental for their mission and create new products, including personalized semiconductors to try to improve with customs.
Intel needs to replace Heyd’t Special engineering, which parties of Intel were no longer key to their future.
A transaction to alter arrives at a time when the treatment has paralyzed the bones worldwide due to the repercussions of the commercial rates of the president of the United States, Donald Trump. Even so, private capital companies that are in more than $ 700 billion in dry powder are looking for objectives that are more resistant to a commercial war than manufacturers.
-With help from Swetha Gopinath, Brody Ford, Ryan Gould and Dana Wollman.
(Updates with financial details in the third paragraph, comment of Hao in the fifth paragraph and additional context in the last two paragraphs).
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