Saturday, February 24, 2024

Israeli chipmaker: Intel acquires Tower Semiconductor

Hida Winkle is a tech blogger from Ohio with a degree in mass communication and a gift for writing. She is the editor-in-chief of Hida’s favorite subjects are technology and building art. She is also a huge fan of Anime and Manga.

The US chip giant Intel has agreed with the Israeli semiconductor manufacturer Tower Semiconductor on a takeover. The deal is expected to add up to around 5.4 billion US dollars (4.76 billion euros), as Intel announced. The companies are hoping to close the deal within twelve months, pending approval from Towers shareholders and regulators. Previously, the “Wall Street Journal” had reported on the upcoming takeover.

Intel intends to expand its manufacturing capabilities with the acquisition. Tower Semiconductor, which produces in the USA and Asia, can make an important contribution to this, it said. Worldwide, the production capacities of electronic chips are scarce in many areas, also due to high demand, chip manufacturers and contract manufacturers are therefore increasingly investing in the expansion of their systems.  (dpa/swi/gem)

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