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Intel Buys Leading Chip Foundry

Intel has made a big investment in its manufacturing capacity by acquiring Tower Semiconductor for approximating A$7.55 billion.

“Tower’s specialty technology portfolio, geographic reach, deep customer relationships and services-first operations will help scale Intel’s foundry services and advance our goal of becoming a major provider of foundry capacity globally,” said Pat Gelsinger, Intel CEO.

“This deal will enable Intel to offer a compelling breadth of leading-edge nodes and differentiated specialty technologies on mature nodes – unlocking new opportunities for existing and future customers in an era of unprecedented demand for semiconductors.”

Intel launched Intel Foundry Services last March as the industry scrambled to meet the global demand for semiconductors. Tower operates foundries in the US and Asia, with capacity of more than two million wafer starts per year. Tower specialises in radio frequency (RF), power, silicon-germanium (SiGe) and industrial sensors, across mobile, automotive, and power.

“With a rich history, Tower has built an incredible range of specialty analog foundry solutions based upon deep customer partnerships, with worldwide manufacturing capabilities. I could not be prouder of the company and of our talented and dedicated employees,” said Russell Ellwanger, Tower CEO.

“Together with Intel, we will drive new and meaningful growth opportunities and offer even greater value to our customers through a full suite of technology solutions and nodes and a greatly expanded global manufacturing footprint. We look forward to being an integral part of Intel’s foundry offering.”

The deal is expected to close within twelve months.

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