Purchase of Tower Semiconductor Bolsters Intel's Silicon Presence
SANTA CLARA, Calif., Feb. 15, 2022 — Intel will acquire Israeli semiconductor solution foundry Tower Semiconductor, in a deal worth $5.4 billion and $53 per share in cash. The acquisition supports Intel’s expansion of its manufacturing capacity, global footprint, and technology portfolio to address what the company said is unprecedented industry demand. “Tower’s specialty technology portfolio, geographic reach, deep customer relationships, and services-first operations will help scale Intel’s foundry