Intel (INTC) Seeks Buyers for Altera Division Amid Interest from

Nov 05, 2024

Private equity firms Silver Lake and Bain Capital are expected to participate in the bidding for Intel's (INTC, Financial) Altera division. According to insiders, Intel has started selling shares of Altera in recent weeks, and potential buyers are anticipated to submit initial offers in the coming weeks.

Francisco Partners, another acquisition firm, has also expressed interest in Altera's shares, positioning itself as a likely contender in the bidding process.

Last month, reports emerged that Intel is looking to raise billions of dollars for its programmable chip division, Altera, by partnering with minority investors. This division, which specializes in chips for high-performance communication and data center applications, is valued at approximately $17 billion. Intel originally acquired Altera in 2015 for $16.7 billion.

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