NEW YORK (CNNMoney.com) -- Three groups of private-equity firms are in the final stage of bidding about €8 billion, or $10.2 billion, for the semiconductor business of Philips Electronics, according to a published report Monday.

The division, one of the world's largest makers of computer chips that power electronic equipment in everything from cars and washing machines to telephones, radios and televisions, was put up for sale last year. Amsterdam-based Philips (Charts) wants to focus on its core consumer-products, lighting and medical-equipment businesses.

The Wall Street Journal reported the company said it would pursue an initial public offering of shares in the semiconductor division, but also began accepting bids from potential buyers, almost all private-equity firms.

The paper reported that bidders include one group led by Kohlberg Kravis Roberts & Co. of New York, which it says has teamed with Silver Lake Partners of Menlo Park, California. Another group includes Permira Advisors of London, Texas Pacific Group of Fort Worth, Texas, and Blackstone Group of New York. The third group is made up of Bain Capital of Boston, Apax Partners Worldwide of London and Francisco Partners Management of Menlo Park, Calif.

Representatives from the different firms declined to comment, according to the report.

Related: Philips announces buyback after profit dip.