Intelis a chip company specializing in semiconductors for emerging markets such as automotive and aerospace. Tower Semiconductor announced its intention to purchase. The deal will be completed with Intel paying $53 per share for Tower, which is approximately equal to the acquisition. $5.4 billion means it will happen.
Intel said it expects the acquisition to be completed within twelve months, but that closing the deal will require approval from both regulators and Tower shareholders.
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Intel acquires Tower Semiconductor
In early 2021, Intel IDM 2.0 announced its integrated device manufacturing (IDM) strategy to the public. Following the announcement, the firm launched a separate arm dedicated to producing chips for third-party customers. Intel Foundry Services (IFS) launched to rival TSMC. The broad goal is to position Intel at the crux of chip design and manufacturing in an era of unprecedented demand.
To support the IDM 2.0 goals, Intel recently made a series of investments designed to help grow chip manufacturing capacity and capabilities. For example, the company has a 1,000-acre chip manufacturing facility in the US, which will house eight separate factories when completed. 20 billion dollars announced that he will spend
Meanwhile, last week Intel released open source RISC-V processors and other chip innovations, surprised analysts by announcing a $1 billion investment to support companies. The company’s grand plan is to lay the foundations for modular products that take advantage of multiple instruction set architectures (ISAs), from its own x86 chip to Arm and RISC-V.
Intel says the Tower acquisition is another piece of the same puzzle, and that the company’s manufacturing capacity and automotive, medical and aerospace says it has expanded the IFS portfolio for high-growth markets such as
“Tower’s portfolio of proprietary technologies, geographic reach, deep customer relationships, and service-first operations will help scale Intel’s fabrication services and advance our ambition to become a major chip provider globally,” said Intel CEO Pat Gelsinger. said.
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