Today on April 14, 2025, Intel announced it will sell 51% of Altera to Silver Lake for $8.75 billion, making Altera the largest independent FPGA semiconductor company. Intel retains 49% ownership. Raghib Hussain was appointed Altera’s CEO, effective May 5, 2025, succeeding Sandra Rivera. The deal is expected to close in the second half of 2025.
Prior to joining Marvell in 2018, Raghib Hussain served as chief operating officer of Cavium, a company he co-founded. Prior to Cavium, Hussain held engineering roles at both Cisco and Cadence and helped found VPNet, an enterprise security company.
Lip Bu Tan, the new CEO had said recently while addressing customes Intel to refocus on essential ingredient of innovation and focus on strengthening balance sheets by driving efficiency.
