Intel agrees to $4.46 billion sale of majority stake in Altera to Silver Lake — "Sharpening our focus, lowering our expense structure"

A US and Intel Corp. flag outside the company's headquarters in Santa Clara, California, US.

Intel just announced a "definitive agreement" to sell 51% of its stake in US-based Altera, an FPGA (programmable) semiconductor manufacturer, to Silver Lake, a global investment company, for $4.46 billion (via Intel).

With this deal-in-motion, Altera is now valued at $8.75 billion, and Intel will still retain a 49% stake if everything goes through as planned in the second half of this year, allowing Intel to "participate in Altera’s future success" while allowing it more operating independence.