Intel (INTC) is looking to spin off its networking unit as the struggling chipmaker moves to shed assets under the direction of new CEO Lip-Bu Tan, according to a report Friday. Intel has already started the process of courting strategic investors for its Network and Edge group,

The decision to spin off the networking unit should come as little surprise. Intel’s new CEO Lip-Bu Tan, who took over the business from previous CEO Patrick Gelsinger in March, had reportedly been considering the spin off since May as part of an overarching strategy to return the company to growth.

Intel on Thursday confirmed its plan to spin off its Network and Edge Group in a memo to customers and said it will seek outside investment for the business unit.