Private equity firms Silver Lake and Bain Capital are expected to participate in the bidding for Intel's Altera division.
According to the financial news app Yuen Fong, private equity firms Silver Lake and Bain Capital are expected to participate in the bidding for Altera, a division of Intel (INTC.US).
According to sources familiar with the matter, Intel has started selling shares of Altera in recent weeks. Intel is expected to receive initial quotes from potential buyers in the coming weeks.
According to reports, acquiring company Francisco Partners is also interested in Altera's shares and is likely to be a bidder.
Last month, it was reported that Intel is seeking to raise billions of dollars from minority partners for its programmable chip division Altera. Intel is looking for investors to fund the division, which produces chips for high-performance communication and datacenter applications, with an estimated valuation of $17 billion for Altera.
Intel acquired Altera in 2015 for $16.7 billion.