Intel To Acquire Tower Semiconductor For $5.4 Billion
SANTA CLARA, CA—Intel Corp. and Tower Semiconductor, a leading foundry for analog semiconductors, have announced an agreement under which Intel will acquire Tower for approximately $5.4 billion. The acquisition significantly advances Intel’s IDM 2.0 strategy as the company further expands its manufacturing capacity, global footprint and technology portfolio to address unprecedented industry demand.
A key part of Intel's strategy was establishing Intel Foundry Services (IFS) in March 2021 to help meet the growing global demand for semiconductor manufacturing capacity and to become a major provider of U.S.- and Europe-based foundry capacity to serve customers globally. IFS currently offers committed capacity in the U.S. and Europe and other geographies in the future, along with a broad intellectual property (IP) portfolio.