U.S. technology company Intel is planning on treating its programmable chip wing Programmable Solutions Group as a separate entity, the company announced Tuesday.
This approach will also reportedly see Intel seeking an initial public offering for Programmable Solutions Group within the next two or three years.
“Our intention to establish PSG as a standalone business and pursue an IPO is another example of how we are consistently unlocking more value for our stakeholders,” said Intel CEO Patrick Gelsinger.
Intel stock rose 2.3% in after hours trading Tuesday following the announcement.
