Intel Sells Majority Stake in Altera for $8.75 Billion to Silver Lake Investors

Intel announced Monday that it was selling the majority of its Altera chip business to technology investor Silver Lake in a deal valued at $8.75 billion.

Silver Lake will own 51% of Altera, which Intel acquired in 2015 for $16.7 billion in an effort to expand its business into chip markets focused on wireless, automobiles and other products. At the time, it was the biggest deal in Intel Corp.’s history.

Read more at AP News