A decade after Intel acquired FPGA maker Altera for $16.7 billion and recently working to make Altera an independent company, Intel announced today it has sold 51% of its Altera business in a deal that values that business at $8.75 billion.

Intel announced today that Silver Lake will acquire 51% of the Altera business. The deal marks Altera's operational independence and becoming the largest pure-play FPGA semiconductor company. Intel will retain the 49% ownership of the Altera business.

Today's press release also notes Raghib Hussain will succeed Sandra Rivera as Altera CEO. The transaction with the Silver Lake private equity firm is expected to close in H2'2025.