On Monday, Intel announced that it had made a specific agreement to sell 5% of its Ultra Semiconductor business, with a private equity firm Silver Lake.
The deal, which priced at $ 1.75 billion to $ 1.75 billion, would “be operational distinct”, Intel said in a press release. Intel Altara will retain 49% ownership, led by Raghiv Hussein, who is going to make Sandra Riveira a success as CEO on May 5, 2025.
“Today’s announcement reflects on the promise of reducing our focus, reducing our expenditure structure and strengthening our balance sheet,” Intel CEO Lip-Boo said in a statement. “The FPGA has continued to progress to replace its product portfolio to take part in the fast -growing and most profitable category of the market.”
This is a developing story, check again for updates.
