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Intel to acquire contract chipmaker Tower Semiconductor for $5.4B

2022-02-15 17:52 by
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Intel Corp is close to buying Israeli firm Tower Semiconductor for about $6 billion, a source familiar with the matter said, as the U.S. company looks to advance its strategy of contract manufacturing chips for other businesses.

The acquisition will deepen Intel’s presence in a space dominated by Taiwan-based TSMC, the world’s largest chipmaker, at a time when the global semiconductor shortage has hampered the production of everything from smartphones to cars.

"Tower's specialty technology portfolio (and) geographic reach ... will help scale Intel's foundry services and advance our goal of becoming a major provider of foundry capacity globally," said Intel Chief Executive Pat Gelsinger.

"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," he said in a statement.

The acquisition comes almost a year after Intel revealed plans to invest $20 billion in two new factories in Arizona, while simultaneously announcing Intel Foundry Services (IFS) - a dedicated unit for manufacturing chips for external designers. In July, Intel CEO Pat Gelsinger revealed that the company was talking to at least a hundred potential customers for IFS.

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