Tower Semiconductor

Continuing their recent spending spree in expanding their foundry capabilities, Intel this morning has announced that it has struck a deal to acquire specialty foundry Tower Semiconductor for $5.4 billion. If approved by shareholders and regulatory authorities, the deal would result in Intel significantly expanding its own contract foundry capabilities, acquiring not only Tower’s various fabs and specialty production lines, but also the company’s experience in operating contract foundries over the long run. The proposed deal marks the latest venture from Intel that is designed to bolster Intel Foundry Services’ (IFS) production capabilities. In the last month and a half alone, Intel has announced plans to build a $20B fab complex in Ohio that will, in part, be used to fab chips for IFS, as...

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