MADRID, 4 Oct. (EUROPA PRESS) -

The American microprocessor manufacturer Intel has announced its intention to separate, as of January 1, 2024, the operations of Programmable Solutions Group (PSG) into an independent business under the leadership of Colombian Sandra Rivera as CEO and with the objective of carry out an initial public offering (IPO) to go public in two or three years.

In this sense, the multinational has explained that, although it intends to carry out an IPO of the business "in the next two or three years", Intel can explore opportunities with private investors to accelerate its growth, with Intel retaining a majority stake. .

The announcement of the spin-off of the programmable chip (FPGA) business, created following the acquisition of Altera in 2015, follows the successful completion in 2022 of an initial public offering for the company's Mobileye business, as well as investments announced by Bain Capital Special Situations and TSMC in Intel's IMS Nanofabrication subsidiary in 2023.

"Our intention to establish PSG as an independent company and conduct an IPO is another example of how we are constantly generating more value for our stakeholders," said Intel CEO Pat Gelsinger.

"This will give PSG the independence it needs to continue growing its FPGA market share, differentiating itself with IFS supply capacity and resiliency, and allowing Intel's product teams to focus on our core business and strategy across the board." long term," he added.

Despite the separation, the two companies will remain strategically aligned, including continuing PSG's relationship with Intel Foundry Services (IFS), as they work together to address key areas of the FPGA market.