Intel apparently plans to sell a minority stake in Altera. The deal would bring a welcome cash injection to the box office.

Intel is in the midst of reforms and there seem to be no sacred cows. The chipmaker is considering, among other things, completely spinning off its factory division, and Altera, a company that Intel acquired in 2015 for $16.7 billion, has also come into the spotlight. CNBC writes that Intel is in negotiations to sell a minority stake in Altera.

Altera CEO Sandra Rivera last month dismissed rumors of an outright sale by Intel. However, Intel makes no secret of the fact that it is looking for investors for Altera. An IPO is planned for 2026, but now Intel seems to want to cash in more quickly. The proposed deal is expected to increase Altera’s market value to $17 billion.

Intel can also use the money wisely itself. Yesterday’s chip giant is going through a turbulent time. CEO Pat Gelsinger announced a restructuring plan in September that will spare no one and nothing within the company. Selling at least a minority stake would be a welcome cash injection to boost these reforms.

takeover

Intel is in the middle of an acquisition process. Competitor Qualcomm sees the problems at Intel as a golden opportunity to take over the company. Intel management doesn’t seem interested in a takeover for now, but an offer it can’t refuse could lead to a change of course at any time.

Qualcomm is reportedly waiting for the outcome of the US presidential election before proceeding with the acquisition.