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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