Intel today announced that it has acquired Tower Semiconductor to expand its manufacturing capacity and offer more services to its customers.
Intel expands and acquires Tower Semiconductor company
On February 15, 2021, Intel announced the acquisition of the Israeli company Tower Semiconductor for more than 5.4 billion dollars. They have notably skills but also many products in the semiconductor circles by being one of the leaders in the field of analog technologies. The company also has several factories in Israel and the United States, producing over 2 million wafers per year.
This acquisition will allow Intel to enrich its product portfolio to offer to different customers and to increase its own production capacity. All this is part of the new IFS(Intel Foundry Services) strategy, one of the key elements of IDM 2.0, the company wanting to open up and offer its foundry services to all its partners around the globe.
The transaction is expected to close in about 12 months and has been unanimously approved by the management of Intel and Tower Semiconductor. However, it is still subject to the shareholders of the latter and the regulatory authorities.
There will be a public conference at 2:30 pm (French time), but mainly intended for investors and analysts, to talk about this acquisition and the strategy of IFS.
