Lattice Semiconductor Considers Bid for Intel's Altera

Lattice Semiconductor is reportedly evaluating a bid to acquire Intel's Altera division, which could complicate Intel's existing plans to sell a minority stake in the unit. Lattice is seeking private equity backing and working with advisors, while other firms like Francisco Partners, Bain Capital, and Silver Lake Management are also exploring investment opportunities in Altera. Intel, which acquired Altera for approximately $17 billion in 2015, is looking to raise several billion dollars through minority partnerships, with bidding expected to close before Thanksgiving. Altera has seen growth, posting $412 million in revenue for the quarter ending September 30. However, Lattice's market value of $7.48 billion poses challenges for a full acquisition. Intel is also in discussions with the U.S. government regarding a multi-billion dollar funding agreement as it navigates significant workforce reductions and restructuring.