Full-Time
No salary listed
Senior
Dublin, Ireland
Company Size
N/A
Company Stage
Acquired
Total Funding
$21.2B
Headquarters
San Jose, California
Founded
1983
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Silver Lake's acquisition of a majority stake in Intel's programmable chip subsidiary, Altera, is being financed by a $1.5 billion leveraged loan. This loan is led by a syndicate of banks headed by Barclays, as reported by Bloomberg.
Covnetics is pleased to announce its membership in the newly launched Altera Solution Acceleration Partner (ASAP) program, building on a successful 14-year partnership with Altera.
Intel is selling 51% of its Altera division to Silver Lake for $8.75 billion. This strategic move allows Intel to focus on core operations while maintaining a 49% stake in Altera, a leader in FPGA technology. Silver Lake will manage Altera, aiming to enhance its market position. The FPGA market is projected to grow from $12.1 billion in 2024 to $25.8 billion by 2029. This transaction is part of Intel's broader strategy to streamline operations and strengthen its financial position.
Intel has agreed to sell a 51% stake in its Altera programmable chip business to buyout firm Silver Lake for $4.46 billion, in the first major move by new CEO Lip-Bu Tan to revive the struggling American chipmaker.
Raghib Hussain appointed chief executive officer of Altera.