September 13, 2024 – Rumors have been swirling in the industry about Intel’s potential plans to sell off its subsidiary, Altera. However, in a recent interview, Altera’s CEO Sandra Rivera firmly debunked these speculations. She stated unequivocally that Intel remains committed to its goal of facilitating Altera’s IPO by 2026 and currently has no intentions to sell the company as a whole.
Altera, which has been operating as Intel’s Programmable Solutions Group (PSG) since being acquired by the tech giant in 2015 for $16.7 billion, is on track to becoming an independently operated entity. In 2023, Intel announced its plans to spin off the PSG division, setting a target for an IPO within the next 2-3 years, with Rivera leading the charge as the head of the PSG division.
In February 2024, Intel made another significant announcement, revealing that the Altera brand would be re-established as an independent entity. During the interview, Rivera mentioned that the separation of business operations between Altera and its parent company, Intel, is progressing ahead of schedule, with a target completion date of January 1, 2025.
Rivera emphasized that Altera’s independence will enable the company to focus on providing comprehensive FPGA solutions, spanning from the cloud to edge computing. She expressed Altera’s ambition to become the leader in the FPGA industry, with the IPO serving as a crucial milestone in the company’s growth journey.
Furthermore, Rivera pointed out that with the acquisition of Altera’s primary competitor, Xilinx, by AMD, and other FPGA companies primarily concentrating on low-end or specific market segments, Altera is presented with a vast market opportunity. She believes that this shift in the industry landscape positions Altera favorably to capitalize on these opportunities and solidify its position as a leading player in the FPGA market.
