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.

Intel sells 51% of Altera to Silver Lake for $4.46bn, valuing business at $8.75bn Altera gains independence as largest pure-play FPGA semiconductor company Raghib Hussain named new CEO as Intel shifts its strategic focus Intel,

Beleaguered chip maker Intel has been looking for ways to capitalize on non-core, not large, but profitable parts of its business to raise funds for its