PR Intel to Acquire Tower Semiconductor for $5.4 Billion

[Pressemitteilung]

Acquisition accelerates Intel’s global, end-to-end foundry business.

NEWS HIGHLIGHTS

• Transaction creates a globally diverse end-to-end foundry to help meet growing semiconductor demand and brings more value to customers across the nearly $100 billion addressable foundry market.
• Acquisition accelerates Intel’s path to becoming a major provider of foundry services and capacity globally, now offering one of the industry’s broadest portfolios of differentiated technology.
• Highly complementary transaction brings together Intel’s leading-edge nodes and scale manufacturing with Tower Semiconductor’s specialty technologies and customer-first approach to deliver leading technology and manufacturing capabilities and enhanced value to customers globally.
• Transaction is expected to be immediately accretive to Intel’s non-GAAP EPS.
• Intel and Tower Semiconductor management will host a conference call for investors, media and industry analysts at 5:30 a.m. PST today (3:30 p.m. Israel Standard Time) to provide further details on the transaction.

SANTA CLARA, Calif., and MIGDAL HAEMEK, Israel, Feb. 15, 2022 – Intel Corporation (Nasdaq: INTC) and Tower Semiconductor (Nasdaq: TSEM), a leading foundry for analog semiconductor solutions, today announced a definitive agreement under which Intel will acquire Tower for $53 per share in cash, representing a total enterprise value of 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.

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