According to people familiar with the matter, institutions including Silver Lake and Bain Capital are preparing to bid for a minority stake in Intel's Altera.

Intel has begun the Altera share sale process in recent weeks and may receive initial offers from potential buyers in the coming weeks.

One of the people familiar with the matter told Reuters that Francisco Partners may also be one of the bidders.

It's unclear how many Altera shares Intel will eventually sell, but the deal could be worth at least a few billion dollars.

An Intel spokesperson and representatives from Silver Lake and Bain Capital declined to comment. Francisco Partners has yet to respond to a Reuters request for comment.