Altera, the chipmaker acquired by Intel 11 years ago, has submitted a confidential IPO application.

Altera was acquired by Intel for $16.7 billion in 2015 and sold 51% of its shares to Silver Lake for $4.46 billion last September. Intel retains 49% of the shares. After the transaction is completed, Altera’s market capitalization is estimated at $8.75 billion. Today the company, best known for its FPGAs and chips used in areas such as artificial intelligence, industrial automation and robotics, filed a confidential application for an initial public offering (IPO). The number of shares to be issued and the price have not yet been determined. Image source: Altera