Silver Lake Management is in exclusive talks to acquire a majority stake in Intel Corp.’s programmable chips unit, people with knowledge of the matter said.

Buyout firm Silver Lake is in exclusive discussions to purchase a majority stake in Intel's programmable chip business, Altera, a person familiar with the matter told Reuters on Tuesday. Silver Lake is finalizing the details of the investment.

Intel is reported by Bloomberg to be at an advanced stage in exclusive negotiations to sell a majority stake in its FPGA unit Altera to private equity