Reportedly, Intel Corporation (INTC) has entered a deal to buy Israeli chipmaker Tower Semiconductor for $5.4B focusing on further expanding its manufacturing capacity and technology portfolio amid rising demand.
The transaction is expected to close in about 12 months and has been unanimously approved by both boards, but is still subject to certain regulatory approvals including the approval from Tower’s shareholders. Intel is paying $53 per Tower share. The Tower will remain independent until the deal closes, and will be then, integrated into Intel Foundry Services (IFS), which Intel established a year ago to help meet growing global demand for semiconductor manufacturing capacity.
Intel Corporation (INTC) seeks to expand the boundaries of technology to provide the most amazing experience possible while designing, manufacturing, and selling integrated digital technology globally. To learn more about Intel Corporation (INTC) and to track its progress please visit the Vista Partners Intel Corporation Coverage Page.
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